PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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To: Sidney Reilly who wrote (992)	10/5/2005 9:39:36 PM
From: Bill on the Hill	Read Replies (3) of 1183

Peak oil is directly related to the Hubbert Curve and its charting of the production life of an oil well or field. The production lifespan of a well or field can be charted precisely. By charting thousands of wells Hubbert produced his theory and curve. The curve realistically gave producers a tool to project the profitability of wells for the industry. I have a producing oil well on our farm in eastern Colorado. The well was drilled in 1967. It pumped 200 barrels a day or so for years. In the late 70's its production fell just like Hubberts Curve projections. Today it is still pumping but is producing only 400 to 500 barrels a month. And is slowing more every year. Eventually our royalty checks will be 25 cents a month. Peak Oil says we will not run out of oil. But our production will diminish quickly as demand rises. There are way to many wildcat drillers and rogues that would be out there punching holes if the oil was still available. As the price rises we will see a lot of marginal wells be fractured to help reinvigorate them but the bulk of the oil has already gone into the tanks above ground. I am convinced peak is peaked. Now. Not years from now. And that does not even talk about the environmental affects of carbon dioxide and monoxide. Oil was in the crapper for years and years. Now its the highest priced thing around and we hate em. Its not their fault. Its ours. Time we all take some responsibility for our greed and selfishness. That to me is the healthy response. To grow up and quit using so unwisely. Even if peak is not real it is time for us to learn to be more efficient. Just one persons opinion. Bill

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