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108 comments on Welcome to The Oil Drum: EROI
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108 comments on Welcome to The Oil Drum: EROI
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Nate:
I am trying to understand here. If EROI for some New Oil is approaching energy break-even then how can you make money on its extraction other than with rising prices.
We are having problems with the image upload function here tonight. SuperG is on it.
I was going to point you out to this recent graph showing FUD costs for most of the world well above current prices. IOW, at these prices, you can't make money on new oil finds (in aggregate - clearly there is some new oil that is still very cheap)
Of course, if the rest of the economy were still functioning (which if the case of near term energy break even for oil is true would not be the case), you COULD still make money extracting sub-unity EROI oil if the energy inputs were of lower quality/lower price than the energy output (oil).