By George Orwel
I loved Mr. Orwel's e-book "Black Gold." It used to be effortless to learn and it had numerous issues within the publication that i did not recognize. Like President Clinton's Iraq Liberation Act of 1998, which said that, "It will likely be the coverage of the us to aid efforts to take away the regime headed via Saddam Hussein from strength in Iraq." This e-book is mild analyzing. do not anticipate finding loads of deep suggestion. it really is kind of like an extended newspaper article. i do not remorse i purchased the e-book. Regards, Keith Renick, Saudi Aramco Oil Co. Retired
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Extra resources for Black Gold: The New Frontier in Oil for Investors
The question is whether production will be able to keep up with that kind of demand. 00% Source: Oil Market Intelligence Numerical Data Source. THE END OF AN ERA? 31 surge in alternative fuels. Further, the Hubbert Curve would suggest that at some point in the next few years the oil peak will occur whatever the price of oil, meaning that year-over-year declines of production are on the horizon. S. oil production would peak around 1966–1972. Oil analysts have applied Hubbert’s methodology to world oil production and are predicting that world oil production will peak within the next several years, though they disagree on the precise timing.
Let’s get back to the debate about peak oil and just assume that world oil production peaks in about 15 years. What will that mean to us, in concrete terms? It won’t mean we’ll run out of oil right away. It only means that net oil availability will decline at an annual rate of about 2 percent thereafter, and we should expect that supply will be down by 20 percent by about 2035, when world population will be doubled, along with fuel consumption. This is still speculative and things might turn out differently, including development of new technologies that would make life a little easier, but it’s going to a huge problem.
23 sions] are there and secondary oil recovery is also occurring in some ﬁelds,” Lynch said, and then went on to challenge the view that recovery in some major oilﬁelds has been less than previously expected. “One ﬁeld recovery problem does not mean that all the other ﬁelds are going to have a similar problem,” Lynch told me in that interview. To the argument that modern technology can only address how much oil can be recovered sooner and doesn’t expand the reserve base, Lynch said: “No. With super technology, you can produce faster and more of the reserves.