tag:blogger.com,1999:blog-8104213639444546557.post6020067187594693098..comments2023-09-17T11:29:46.085-04:00Comments on People and Resources: Oilfield technology is basically good enoughRhttp://www.blogger.com/profile/00382535839751044401noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8104213639444546557.post-6478473830267457942009-09-19T21:49:20.716-04:002009-09-19T21:49:20.716-04:00Those are great additional points, Tony. I find y...Those are great additional points, Tony. I find your view on enhanced oil recovery particularly interesting - I had no idea it had so much potential.<br /><br />Thanks for reading, and for contributing your knowledge in the comments section!!Rhttps://www.blogger.com/profile/00382535839751044401noreply@blogger.comtag:blogger.com,1999:blog-8104213639444546557.post-39590579221108933762009-09-18T12:47:19.662-04:002009-09-18T12:47:19.662-04:00As an exploration geologist I have to agree with y...As an exploration geologist I have to agree with you and not Simmons. There is much more to advancing technology than just the capacity to drill horizontally or exploit deepwater. There has been an entire paradigm shift in geologic modeling in the past five to ten years, leading to the recognition of resources that most did not believe were exploitable only 5 years ago (and some still don't believe). With a tightening of oil supply, and rising prices, all sorts of resources will become economically producible, and as competition increases in those resources (like gas shales, oil sands, clathrates, shale oil, oil shales, secondary recovery, etc) there will be a renewed abundance of resources. Enhanced recovery techniques alone could double the existing oil supply if they became economic. Combine that with geothermal potential of old wells and who knows where it could go? Substitution of natural gas for oil already holds significant potential to impact any shortfalls from peak oil. Perhaps Simmons needs to be reminded that when oil replaced whale oil, it was selling for an inflation adjusted price much higher than $150 per barrel. Economics change technology and make its application become more creative and will prevent catastrophic, but not necessarily uncomfortable changes in supply of energy. The New England whaling industry would certainly not describe the changes brought about by learning to refine crude oil into kerosene as comfortable. The whales however are probably thankful.Unknownhttps://www.blogger.com/profile/06614221624413874046noreply@blogger.com