Stories tagged with "declines"

Why oil costs over $130 per barrel: the decline of North Sea Oil

Posted by Euan Mearns on June 9, 2008 - 10:00am in The Oil Drum: Europe
Topic: Economics/Finance
Tags: $130 oil, brent, declines, decommissioning, economists, exports, m. king hubbert, north sea oil, norway, peak oil, united kingdom [list all tags]




Rising North Sea oil production was a significant factor in keeping oil prices under control in the 1970s, 80s and 90s. Production peaked at 6.4 million barrels per day in 2000 and since then, declining North Sea Oil production is one significant reason that oil prices are now rising exponentially.

There's more… (1319 words) | Comments (280) | | Permalink | Without comments | PDF version

Why oil costs over $120 per barrel

Posted by Euan Mearns on May 30, 2008 - 9:44am in The Oil Drum: Europe
Topic: Economics/Finance
Tags: cera, declines, demand, energy density, iea, megaprojects, net energy, oil prices, opec, peak exports, peter jackson, spare capacity, supply [list all tags]

(New readers, click "there's more" below for the whole article...)




Global Total Liquids production and oil price, January 2002 to present. Production data from the IEA, data files supplied by Rembrandt Koppelaar. Monthly average WTI oil prices from Economagic.

With oil reaching $135 / barrel, Oil Drum readership exceeding 30,000 unique visitors per day and many wild stories circulating in the MSM as to why oil prices are so high this post strives to explain why oil prices are rising exponentially:

• Supply and demand
• Decline of older fields
• Declining net energy and energy density
• New mega-projects
• OPEC spare capacity
• Peak exports

There's more… (2303 words) | Comments (265) | | Permalink | Without comments | PDF version

Is the Decline of Base Production Accelerating?

Posted by Stuart Staniford on November 19, 2007 - 10:45am
Topic: Supply/Production
Tags: chris skrebowski, declines, megaprojects, original, peak oil [list all tags]

Average percentage change annually in global base production (prior to new capacity enumerated in Skrebowski megaproject lists). See text for details. Graph is not zero-scaled. Click to enlarge.

There's more… (4700 words) | Comments (81) | | Permalink | Without comments | PDF version

Homework Assignment: Rates of Decline of the Largest Fields

Posted by Prof. Goose on August 11, 2006 - 11:41am
Topic: Supply/Production
Tags: decline rate, declines, megaprojects, oil, oil prices, peak oil [list all tags]

After yesterday's discussion of on-stream production growth (or the lack thereof), it would seem apropos that we follow that up with a discussion of the existing largest fields and their decline rates.

Greyzone and others worked a while back to assemble as much data as they could about the largest producing oil fields, their peak year, and whether or not they were in decline, and if so, the decline rate.

I thought I'd repost this as a discussion point, but also to accomplish two other goals: 1) can we expand this to the top 50 fields easily? is that a worthwhile exercise? and 2) is there any more data out there that can fill in the blanks (note that most of the missing data is from SA) that are present?

Here's a link to the data, and here's a link to the original thread that started this all.

Comments (82) | | Permalink | Without comments | PDF version