Oil discoveries dispel "Peak Oil" as myth

Discussion in 'Energy' started by mdn2000, Nov 17, 2010.

  1. mdn2000
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    We are finding new oil reserves every year, maybe not the USA but other countries. Brazil is extremely active and in the last couple years they have become Oil independent. Soon if not today they hope to be an exporter of petroleum.

    Seems like professor's and scientist's theories are proven wrong, what is theory of Peak Oil in light of recent petroleum discoveries.

    OilVoice | Petrobras Announces Discovery of Light Oil to the South of Santos Basin

     
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  2. Mr. H.
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    Jiggs Casey lecture in 3... 2... 1....
     
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  3. JiggsCasey
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    LOL.... you read the story, didn't you? What's the total they think they've found? Curiously no mention of that. Yawn.

    These "finds" pop up all the time, and every time, "nothing to see here" clowns insist it's evidence of oil abundance. Then, they get pinned down on acknowledging the figures, and they're forced to admit proven reserve totals in the tens of millions, or perhaps 2-3 billion barrels, at best. Every time.

    Talk to me when you can allude to a centralized find of proven light crude in excess of 20-100 billion. Because that's what we used to find 2-3 times per year in the 40s, 50s and 60s, and that's what our empire is built upon. And we need to find about 7 "Ghawars" just to maintain stasis, going forward, let alone growth.

    *edit* yup, as expected... 280 million barrels. Yawn-tacular.

    Preliminary analysis indicates that the Campos Basin has recoverable volumes of 280 million barrels of light oil. Geologically similar reservoirs had already been identified in the Santos Basin by drilling two wells in the Marlin Sul field. These discoveries are a result of the efforts and the modern technology that the company has been using in other production areas.?

    We use 85 million barrels each and every day. So I guess 3.5 days of new oil is "proof" that "everything is fine, and Hubbert's curve is some "myth". :rolleyes:

    Do better.
     
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    Last edited: Nov 19, 2010
  4. mdn2000
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    Brazil has found oil, its changed the import/export dynamic, for the first time Brazil is now an exporter of oil.

    Brazil has increased use of oil domestically and has gone from being an importer of oil to an exporter.

    Peak oil, if you listen and read you will notice its called Peak Oil Production, as in we have reached refinery capacity, as far as reserves go, we have no way of estimating how large the current reserves are let alone how large unknown discoveries are.

    Latest Brazil Oil Find Could Be World's Largest In 20 Years - WSJ.com

     
  5. JiggsCasey
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    "Oil equivalent?"

    Again, your article seems very shy about stating PROVEN reserves. Tricky language like "could contain as much as...." doesn't convince anyone of anything. Regardless, 5-8 billion barrels of "oil equivalent" off the coast of Brazil isn't gonna do much of anything for global peak.

    Worse, mocking peak because of this piddly find is the very definition of hubris.
     
  6. mdn2000
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    I know my article lacked what you pointed out earlier, I expected this response and have no retort.

    I understand the failings of links and articles to prove points.

    Still, its a fact Brazil has become an exporter of oil.

    What does the BP disaster teach us about peak oil, that there are known reserves of such great magnitude its extremely dangerous to tap said oil reserve.

    Anyhow, I agree my articles do not prove a point, I can say the last four years of going to Brazil I have seen offshore oil platforms being built and super-tankers converted to offshore oil processing platforms, as built by Halliburton, which reminds me I have met Halliburton engineers in Brazil as well as dozens of platform workers.

    Make no mistake, the oil industry in Brazil is growing, and not by a little bit, will they pass Saudi Arabia or Venezuela, I dont think so, but they are the experts at finding deep oil offshore.

    New discoveries in Brazil, accounted for in the Peak Oil theory, without googling, I say no.
     
  7. editec
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    editec Mr. Forgot-it-All

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    Cheap oil peaked a long long time ago.
     
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  8. KissMy
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    The science quoted by the doomers below said we should have been out of oil 100 years ago. Amazing, Its a miracle we survived. God has obviously put more oil in the ground for the last hundred years.:lol:

    The chart below shows new production capacity is outpacing actual production. Demand cannot keep pace with the new supplies of fuels added to capacity. We also have a glut of oil in storage. The price of oil is dropping even as the US Dollar weakens. THERE IS NO PEAK OIL.

    Total World oil production capacity in July 2010 increased by 820,000 b/d from June 2010 from 90.16 to 90.98 million b/d. World production capacity is measured here as the sum of world liquids production excluding biofuels plus total OPEC spare capacity excluding Iraq, Venezuela and Nigeria.

    [​IMG]

    Oil Trades Near 1-Month Low After U.S. Supplies Rise to Highest in Decades

    [​IMG]

    Growth is possible once Doomocrats are out of office.
     
  9. JBeukema
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    Which means there's no evidence of some mystical hidden reserve that will save us all. We can't afford to assume more will magically appear- especially with more nations becoming industrialized and demand increasing.

    Not the mention that so many of the reserves are in unfriendly nations. We might find more and extend the date, but it remains a finite and non-renewable resource.
     
  10. JBeukema
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    [ame=http://www.amazon.com/Internal-Combustion-Corporations-Governments-Alternatives/dp/0312359071]Amazon.com: Internal Combustion: How Corporations and Governments Addicted the World to Oil and Derailed the Alternatives (9780312359072): Edwin Black: Books[/ame]
     

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