Is Peak Oil Dead?
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Transcript of Is Peak Oil Dead?
Is Peak Oil Dead?
Jim Letourneau, P.Geol.Big Picture Guywww.JimLetourneau.com
Calgary Energy and Resource Investment ConferenceApril 5, 2013 9:30AM
Crap DetectionCrap detection - Hemingway's name for what digital librarians call credibility assessment - is another essential literacy.
If all schoolchildren could learn one skill before they go online for the first time, I think it should be the ability to find the answer to any questions and the skills necessary to determine whether the answer is accurate or not.
Howard Rheingold
Facebook IPO
Peak Market Cap
$104 Billion
Athabasca Oil Sands
Sunshine Oilsands
Hubbert's Peak
The Hubbert peak theory says that for any given geographical area, from an individual oil-producing region to the planet as a whole, the rate of petrolum production tends to follow a bell-shaped curve.
Oil Price
GEORGE P.
MITCHELL
Innovation
Father of the Barnett Shale.
Started in 1981 - didn't take off until 1999.
Sold for $3.5 Billion in 2001
Primm, Nevada
Ivanpah Solar
86 permanent jobs
Walter M. Higgins Gas
~17 employees
Primm, NV
$500 million for 530MW - Gas
$2.2 billion for 398 MW - Solar Thermal
Niland, CA
Niland, CA
$77.4 million for 23 MW - Photovoltaic
$100 million for 90 MW - Gas
Data from Railroad Commission of Texas
Canadian Oil Production
Innovation
● Global conventional oil endowment 6-10 trillion barrels
● Global unconventional endowment 6-8
trillion barrels
● ~1.2 trillion barrels produced to date
Weyburn
IEA GHG Weyburn CO2 monitoring and storage project - Preston et al 2005
Weyburn
Cenovus Energy
Powerwave
Peak Oil
Examined from the vantage point of nearly 40 years, all of Hubbert’s forecasts are clearly too pessimistic, primarily because he failed to anticipate that technological breakthroughs would make E&P in hostile environments possible, and that new drilling and stimulation technologies would allow reservoirs to be developed in rocks then thought to be incapable of production.
Peter R. Rose
www.JimLetourneau.com
Jim Letourneau, P.Geol.Big Picture Guy