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Maybe TOD could do an entire blog on technology's effect on global peak of crude production. Or if you've done this already, I'd love to have a link. I searched for about 45 minutes and didn't find what I was looking for. I'll look again I guess.
Did Simmons talk about this in his book?
Thanks..
He does not believe technology increases total recovery. In fact, he believes the exact opposite. High tech methods increase production short-term, but decrease total recovery. At least for most oil fields (there are a few exceptions, depending on geology).
http://321energy.com/editorials/rudesill/rudesill083005.html
http://www.netl.doe.gov/technologies/oil-gas/E%26P_Technologies/E%26P_main.html
http://ogj.pennnet.com/Articles/Article_Display.cfm?Section=ARTCL&ARTICLE_ID=114006
http://ogj.pennnet.com/Articles/Article_Display.cfm?Section=ARTCL&ARTICLE_ID=114877
http://home.entouch.net/dmd/Oilcrisis.htm
You could browse the archives of this site:
http://www.worldoil.com/magazine/magazine_contents.asp?Issue_Type=CURRENT
You have been very patient, it is an important question both for the amount we can actually recover and for the effects it will have on subsequent depletion rates. I, too, look forward to the comments of our more expert folks here.
(Unrelated) During my search I stumbled on this article:
http://www.gasandoil.com/goc/speeches/mckillop.htm
which discusses price and demand elasticity, GDP and economic effects, etc. Since there's been a good deal of discussion about such things here lately I thought it worth posting, it looks interesting but I have only given it a cursory glance so far.
In the meantime, I hope Stuart at least acknowledges my post before Ghawar is empty! :)
As far, I have a feeling (i haven't done much reading on it, other than the link Agric posted) that gasoline demand becomes more inelastic the higher the price gets: the higher it gets, the more people that can afford the higher prices are priced out of the market.
Note to Zach: Don't let this disappointment drive you away!
Wow, Jack. Where to begin...
First, I would like to say that whether it is positive or negative criticism, I welcome it. So thanks! At least I know that you don't find the questions important, which is your opinion and you are of course entitled to it. But, as Agric so eloquently stated, "it is an important question both for the amount we can actually recover and for the effects it will have on subsequent depletion rates. I, too, look forward to the comments of our more expert folks here." I couldn't have said it better myself.
Secondly, everything you have accused me of not doing, or not willing to do, I said I have done or said I would do. Just read my posts sir. I stated that I don't want to appear too pushy and I was not being sarcastic or anything. I am understanding of people's time, especially people who volunteer it on a great site like this (I have been reading TOD since late 2004, just didn't see a need to post. The analysis and commentary was quite thorough.). In fact, Agric saw this and commended me. He obviously meant it.
Thirdly, I would like to concede that singling out Stuart turned out to be a bad idea here at TOD, but it requesting info form specific people works fine on Every Other Blog and Messageboard I've Been To. My 'acknowledgement before Ghawar is empty' statement had a smiley face on the end, indicating that it was a light hearted request and that I was eagerly awaiting a response, not demanding one. pfft.. You miss understood and took it as an opportunity for criticism. Which leads me to my next point.
Fourthly, after Leanan and Agric's very helpful posts you come off as a blog troll who has nothing better to do but criticize and make assumptions about what other people have done or will do. If it was my forum or blog, you'd have Strike 1 of 3.
Have a nice day and thank you all again for your help.
sigh..