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Politics : Politics of Energy

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To: Alastair McIntosh who wrote (68084)	1/25/2016 8:34:29 AM
From: Eric	Read Replies (1) of 86355

Peak oil all along has been about the marginal cost to produce a barrel of oil. Oil historically since 1859 has been produced for an average cost of about $35 per bbl. bloomberg.com inflationdata.com The very long-term view is similar. Since 1869, US crude oil prices adjusted for inflation averaged $23.67 per barrel in 2010 dollars compared to $24.58 for world oil prices. wtrg.com Ultimately all of the cheap, easy to get at oil in NA via conventional drilling is gone. Much more expensive drilling techniques such as the many more step process of horizontal drilling in "tight" geologies is involved now. Even the environmentally dirty process of tar sands extraction require much more labor and equipment and energy to get a bbl. A pretty sad commentary, finite and a rapidly declining EROEI. Many of us have already transitioned off of fossil fuels and that trend just accelerates going forward. I'll let you stick with FF's and let you pay the price for their environmental effects. Their are other ways to generate energy much more cheaply and cleanly now. Eric

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