tag:blogger.com,1999:blog-19508699.post7999200331804918059..comments2024-03-29T06:38:18.116+00:00Comments on Energy Balance: Is Peak Oil Now a Phantom?Professor Chris Rhodeshttp://www.blogger.com/profile/12060542089215379056noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-19508699.post-63499740131627861792019-10-20T10:13:08.532+01:002019-10-20T10:13:08.532+01:00Please collect more information for your website. ...Please collect more information for your website. I really like your website. Thanks for what you have sharedcửa wchttp://cuagobachviet.vn/cua-go-phong-wcnoreply@blogger.comtag:blogger.com,1999:blog-19508699.post-38229643451189574052014-10-14T07:24:35.687+01:002014-10-14T07:24:35.687+01:00Hi Keith,
true, fracking was first done in 1947 i...Hi Keith,<br /><br />true, fracking was first done in 1947 in a gas-field in Kansas. The technology has improved since then, and the combination of multi-stage fracking and horizontal drilling is the recent innovation.<br /><br />You are quite correct that if the price of oil were not as high as it is now, no one would be using this kind of technology because it would cost more to produce the oil than it can be sold for.<br /><br />That said, the interesting situation has emerged that the oil prices has fallen, and oil companies are now losing money on oil, and are generating cash flow by selling assets.<br /><br />In essence, the price of oil has to rise again, or production will wane - that, of course would push the price up, once the surplus had evaporated.<br /><br />A downturn in the Chinese economy is being blamed for the fall in the oil price, which has led to a temporary "glut". This is only temporary, however, and the price will rise - it must!<br /><br />Some companies say that they need a barrel of oil to cost $130 or so, to be profitable again.<br /><br />Regards,<br /><br />Chris<br />Professor Chris Rhodeshttps://www.blogger.com/profile/12060542089215379056noreply@blogger.comtag:blogger.com,1999:blog-19508699.post-27480192180012734142014-10-14T01:54:51.324+01:002014-10-14T01:54:51.324+01:00"New technologies – horizontal drilling combi...<i>"New technologies – horizontal drilling combined with fracking – have made it both practically and economically viable to exhume gas and oil from previously inaccessible reservoirs."</i><br /><br />As ROCKMAN on peakoil.com keeps remindinding us, horizontal drilling and fracking have been available for decades. They were just too expensive to use until the recent oil price runup.Keith McClarynoreply@blogger.com