Hydrocarbon supply ‘relatively boundless' - no peak oil !

[Bob]

Oh boy.

World hydrocarbon supply ‘relatively boundless'. Reported today in the Industry trade Journal Oil and Gas by the Editor and Chief of the journal,

"Geophysical advances have contributed to the identification of a "relatively boundless supply" of oil and gas worldwide, Barry Smitherman, chairman, Texas Railroad Commission (RRC), told the Society of Exploration Geophysicists annual meeting Sept. 23".

Texas Railroad Commission is pretty conservative, and quite a sticker for giving the Majors as much of a break as they can. Smaller local operators and explorers are not favored in Texas. One would have to assume that editor Alan Petzet found Mr. Smitherman's statements most revealing.

So often we have been told the world is running out - there is no more energy, therefore we must conserve and of course up the price of fuel at the pump. I remember 25 cents a gallon for a darned good grade fuel. 8$ a gallon is crazy.

He cited: "The Eagle Ford shale alone is making about 600,000 b/d of oil, up from nothing 5 years ago, and could attain 1 million b/d within a year." B/D is barrels a day, or 1 Barrel [Oil] = 42 Gallons [US, Oil]

Using a rather strange way of proving some of his statements: "So much oil and gas have been located in unconventional formations worldwide that the so-called “Peak Oil” web site has shut down, Smitherman noted."

What then can we expect, a sliding away from clean energy and back to more oil, coal and gas use?

Backpedaling from the PEAK OIL drama is a MOST amazing turn of events.

[christian]

Lindsey Williams had said that there is no peak oil based on the testimony of his inside sources since quite some time, he calls it all The Energy Non-Crisis.

[Bob]

Posted by christian (here)
Lindsey Williams had said that there is no peak oil based on the testimony of his inside sources since quite some time, he calls it all The Energy Non-Crisis.

I just got off the phone to confirm this with an insider in the industry. He said, for the Texas Railroad Commission, probably the most conservative in the world that has kept "oil shortage" in the forefront, to say no shortage, no peak oil.. he said, WOW.. this is big.

[Tesla_WTC_Solution]

It's strange that water can fall from the sky and magma rises from the earth, but people would believe that oil and gas are not also continually renewed.
People know how diamonds are made, but not oil?

Perhaps it's not so different

Thank you for that, Bobd!!

[TargeT]

Posted by Bobd (here)

Posted by christian (here)
Lindsey Williams had said that there is no peak oil based on the testimony of his inside sources since quite some time, he calls it all The Energy Non-Crisis.

I just got off the phone to confirm this with an insider in the industry. He said, for the Texas Railroad Commission, probably the most conservative in the world that has kept "oil shortage" in the forefront, to say no shortage, no peak oil.. he said, WOW.. this is big.

there are huge untouched fields in Alaska (on ground) and the infrastructure to get at it (one of the worlds largest pipelines.) and the off shore stuff is staggering.

But since money, and our economy, work of a principle of scarcity we must keep these resources from ourselves... I think big oil could be starting to rethink tactics & might be looking to flood the market rather than constrict it (as it always has) sort of a "kickstart" to oil based energy again as so many alternative fuels seem to be gaining popularity.

The principles of banking apply here, when liquidity is low, create more money! (oil in this case).

[778 neighbour of some guy]

Ah, this great news, the cycle of inequality and pollution can continue as is, lets not explore nuclear and free, lets just not, sigh, oil is crap, its the main reason for starting wars all over the place, really, renewable or not, oil is crap, lets slow down progress some more and pump that crap up, I think this is a diversion to be honest, the more bad news comes out the more everything is ramping up to a sudden dead stop , its speeding up, and up and up and up, they must feel the need to slow this process down, they are not ready yet for collapse, lets give the plebs some good news, its not the perfect time for riots yet.

If it is true large deposits are found that's not good news at all, its just news, imo.

[Bob]

"BP" formerly known as "British Petroleum" announced massive discovery in Egypt's Nile Delta region

"BP Egypt" Having drilled to 7,000 m (22,966 ft) struck it the first time, not a dry hole in their view. They drilled right into the middle of what they believed to be "the structure" a 50-km [31-m] long ovoid.

Mike Daley, exec VP of BP says: "With a hydrocarbon column in excess of 180 m [591 ft], the discovery increases our confidence in the materiality of the deep Oligocene play in the East Nile Delta."

Interesting the developments in Egypt - with massive conflicts between the parties like wildfires appearing and being stomped on, the current government saying they BAN the Egyptian Muslim Brotherhood - and now a massive find of $$$ - is this the oil curse catching attention, a different way to throw funds to Egypt to play ball? Stick with the tried and true, OIL, make your money and stop rocking the boat?

We can only guess..

[PurpleLama]

Just as the marrow of the bones renew the blood of the body....

Just a metaphor, or is it?

There may be more implications to pumping up these hydrocarbons, it might be more of a basis for life than such the raw, toxic mess would imply. In Carmody's thread, we have discussed how the very elements may change in the electrified slow cooker below earth's surface, perhaps these compounds are more than decayed living matter from eons ago....

[donk]

I came here when the founder of the excellent peak oil forum (Life After the Oil Crash, i will not mention his name) flipped out, shut it down, and is now basking in his own ego as some kind of "hip" astrologer...I love the dude from what I learned from him, but I cringe reading anything he has to say anymore.

Anyway, I was in intense fear of peak oil for a significant part of my adulthood. Whether it is contrived or not--we must not lose sight of the horrible connotations (as expressed well by Ed the neighbor)...the scarcity control mechanism by fear of peak oil may well be a manufactured fiction by or slaveowners...if this is true (renewable hydrocarbons) and we continue as built-in-obscelence consumer society...it's the air and water (which may fall from the sky--but does that make it infinite?? that's strange logic Tesla) that I'm worried about.

Limitless hyrocarbons means limitless pollution, as the world is today...much scarier than running out of the "black gold" is trying to filter it from our life.

I don't understand the value in believing in infinite resources, even if it is true. It is the same psychotic mindset that our current economic rules depend on...somehow we can violate the laws of thermodynamics and come out the other side ok.

[donk]

Do we believe in that law of thermodynamics...that energy is neither created nor destroyed?

Bob and Lindsey talk about oil, Tesla mentions air and water, Reilly mentions bone marrow, Target speaks of money.

What are the implications of treating these things as something that are spontaneously created (or unlimited)....isn't there another law that may apply here (something abuot equal and opposite reactions)?

I am not married to the laws of thermodynamics--all my beliefs are negotiable, but until I observe them not working as stated, I use them as a pretty handy rule of thumb

[Richard S.]

Here's a link to the article:

http://www.ogj.com/articles/2013/09/...-seg-told.html

[TargeT]

Posted by donk (here)
Do we believe in that law of thermodynamics...that energy is neither created nor destroyed?

Bob and Lindsey talk about oil, Tesla mentions air and water, Reilly mentions bone marrow, Target speaks of money.

What are the implications of treating these things as something that are spontaneously created (or unlimited)....isn't there another law that may apply here (something abuot equal and opposite reactions)?

I am not married to the laws of thermodynamics--all my beliefs are negotiable, but until I observe them not working as stated, I use them as a pretty handy rule of thumb

I spoke of money because it is created (in it's current form) with it's demise already written in, just like oil, once it is pumped from the ground it's existence (in that form) is very short (all money is created as debt, and the debt has to be paid etc...)

so I suppose thermodynamics could apply here, yes? both are forms of self fulfilling scarcity; the pattern of TPTB, I see it as mostly yang (the dark side of the yin/yang relationship) and an imbalanced state that causes strife.

it seems to fit the "MO" of the patterns that exist these days.

[Bob]

Posted by donk (here)
I came here when the founder of the excellent peak oil forum (Life After the Oil Crash, i will not mention his name) flipped out, shut it down, and is now basking in his own ego as some kind of "hip" astrologer...I love the dude from what I learned from him, but I cringe reading anything he has to say anymore.

(snipped)

Limitless hyrocarbons means limitless pollution, as the world is today...much scarier than running out of the "black gold" is trying to filter it from our life.

it could just be that there may be some one out there, who has a solution that enables hydrocarbon use and ZERO POLLUTION, and from the hydrocarbon FLARING, ZERO FLAMES and ZERO POLLUTION, and for the FRAKING, ZERO LEAKAGE and ZERO contamination...

there just could be a way to have it all, and not destroy - conversion I think is possible - every truly workable solution comes with an understanding that is, a better game than before exists when we are ready to let go of the methods that held us all back..

eheh - of course, that all depends on some folks being logical and wanting better ways..

[Rosieposie]

Bah as much as oil has served a purpose, the stuff is nasty lol. The more I study plants and the more I learn of all they can do the more I think that is our future. I'm even growing plants for soap lol and they have graphite batteries and algae lights etc I think our future is one of intelligent integration with nature.

I see a future where we are the gardeners of earth. Intelligence and empathy united, yin and yang

Gosh darnit ain't I just a hippy :D

[778 neighbour of some guy]

Posted by Rosieposie (here)
Bah as much as oil has served a purpose, the stuff is nasty lol. The more I study plants and the more I learn of all they can do the more I think that is our future. I'm even growing plants for soap lol and they have graphite batteries and algae lights etc I think our future is one of intelligent integration with nature.

I see a future where we are the gardeners of earth. Intelligence and empathy united, yin and yang

Gosh darnit ain't I just a hippy :D

Rats..........I was so hoping for a fluorescent squid on a stick as a nightlight, and what do I get.....algae, ah well, why not, totally worthy of its own thread btw, bioluminescence as a light source would be amazing to have in a home/office or as streetlights, grow light, therapy, just think of how much you would/could save on your power bills. That is the possibly really great news, the bad news is they would stretch out the oil supply for use in motor vehicles and we would stay stuck them until it finally runs out, if ever.

[music]

I would have a very hard time believing that hydrocarbons were an infinitely renewable resource at current consumption. So, in my view they are a finite, non-renewable resource.

Water is an infinite renewable resource (in the context of the current networks of earth systems), but the question arises of water quality.

Much of the extraction of these now admitted large reserves (if they exist) would no doubt require practices that compromise the quality of our ground water. On a large, world-wide scale, this makes the issue of whether or not we have access to clean water more of a limiting factor for human population viability than whether or not we have enough hydrocarbons to enable us to continue our existence of profligacy, gluttony and base satisfaction.

I, for one, would take anything I hear from the oil industry with a very large pinch of salt. I feel I would be safer allowing the Whore of Babylon to whisper sweet nothings into my ear.

[outerheaven]

Yup! Colonel L. Fletcher Prouty (who was the "Man X" character in Oliver Stone's JFK) said this during his time. It's amazing when the things you've been fearing for decades are revealed for what they are. Anyhow, if you're interested in reading Prouty's thoughts:

http://www.prouty.org/oil.html

http://www.prouty.org/comment6.html

[778 neighbour of some guy]

Posted by outerheaven (here)
Yup! Colonel L. Fletcher Prouty (who was the "Man X" character in Oliver Stone's JFK) said this during his time. It's amazing when the things you've been fearing for decades are revealed for what they are. Anyhow, if you're interested in reading Prouty's thoughts:

http://www.prouty.org/oil.html

http://www.prouty.org/comment6.html

WOW, outerheaven, where have you been all this time, that is some amazing information, that post is a must read, and at least as interesting as the Galen Winsor presentations.

Thank you!!

[outerheaven]

Posted by 778 neighbour of some guy;735too

Posted by outerheaven (here)
Yup! Colonel L. Fletcher Prouty (who was the "Man X" character in Oliver Stone's JFK) said this during his time. It's amazing when the things you've been fearing for decades are revealed for what they are. Anyhow, if you're interested in reading Prouty's thoughts:

http://www.prouty.org/oil.html

http://www.prouty.org/comment6.html

WOW, outerheaven, where have you been all this time, that is some amazing information, that post is a must read, and at least as interesting as the Galen Winsor presentations.

Thank you!!

Haha, thank you! As for where I've been? My eyes have been shut until about 4 weeks ago. This is all still very new to me, too. I'm glad to have found you guys ... Otherwise I might think I was crazy

[778 neighbour of some guy]

Haha, thank you! As for where I've been? My eyes have been shut until about 4 weeks ago. This is all still very new to me, too. I'm glad to have found you guys ... Otherwise I might think I was crazy

You are most welcome, and allow me to say your eyes have been opened with blinding speed ( that's sounds totally weird), your being new does not take from the fact that that was a very very interesting link you provided for everyone to read, its not something I have read before and I am happy you acquainted me with this interesting information, we are also happy you found your way to this place, and I don't think you are crazy at all, nevertheless this place can be hard or your sanity once in a while, again, thank you and welcome.