A small economy has three industries: Machinery, Electricity and Oil. Machinery requires inputs of 0.2 units from Electricity. The Electricity does not require inputs from the other two industries and 0il requires 0.2 unit of electricity
Machinery, Electricity and oil producers want to raise their target levels of final demand to 1000, 2000 and 100.
Find the total production of machinery, electricity and oil of a small country that satisfies the mentioned targets.
M is 1000.
O is 100.
E is 2000 + 1000*0.2 + 100*0.2 = 2220.
THE FACT THAT THE US ALREADY HAS 510,000 wells is just one reason why we cannot simply "drill more wells" to achieve a fictional energy independence, as many Americans naively suggest. Most of the oil in the US has already been found and produced – the peak of US oil production happened in 1970, and it can NOT be achieved again.
I have noticed that the lead on stories in the news about offshore drilling refer to the present debate as one to allow offshore drilling. We presently have over 4000 active producing wells in the gulf of Mexico and there is still a substantial portion of the leased territory that has not been explored or drilled. Would it not be wise to drill in the area already allocated before adding additional areas not now open to drilling
There is another fact that is being overlooked, and that is the availability of drilling equipment to drill deep water wells and the age of the Riggs already in use. I am told that the life expectancy for an oil drilling rig is about 25 years and a substantial number of the Riggs in active use are already over that age
T Boone Pickens is the quentisential oilman. He has made billions of dollars drilling for oil, and he has stated infactically that more drilling will not reduce the price of oil or gasoline, and there is no way we can drill our way out of this mess. He does favor more drilling, he is an oilman, and his primary interest is in making money and there is no doubt that oil comopanies will make more money with additional wells.
That being the case and allowing that there is still areas untapped , would it not seem probable that the oil companies would be drilling more wells already given the high price of oil, if they had the capabability
Crypt. The first paragraph is a fact. I am trying to address this subject in a serious way, and anything you might have to offer to contravene the information is welcome. Other than uninformed opinion that is. There are plenty of other similar questions available for you to vent if that is what you are about
September 10 : Pickens is investing billions of his own money in Wind and Natural gas Kind of strange for an oilman wouldn’t you say Unless of course there is no future in oil..
TYCHICUS: Its pretty obvious by your response that you have not looked at any of the statistical data put out by the oil companies themselves. You haven’t listened to T. Boone Pickens either. He just testified before Congress on the subject of Energy. If you had listened to what he has to say, you would know that he doesn’t support corn based ethanol .
As for drilling new wells. You aren’t paying attention. In order to drill new wells you need the equipment. You also need to explore. The oil companies have been putting their profits into buying back their own stock to increase profits instead of pursuing new oil and drilling .
The remarks on the peak production are a statement from oil companies, not speculation on my part
What you think constitutes Fascism is irrelevant. If you can read, you should look the word in your dictionary, its meaning is not subjective. You show your ignorance by making such statements
Nancy Pelosi is not the head of our Government , George Bush is. and if you feel that Fascism is alive and well in this country, who am I to disagree. All of the symptoms do seem to be present. You have just not correctly identified the dictator.
Peak oil source
http://www.energybulletin.net/primer
Source: oil companies buy back stock to increase profit instead of exploring and drilling new wells.
http://www.newsobserver.com/110/story/1149732.html
Stock buy back. Alan Greenspan made the same observation in an interview on CNBC.
Guess he must be one of those flaming liberals eh.
No. They don’t want to hear any actual facts in this regard. It’s too scary. All they know is that it is killing their budget to fuel up their giant SUVs so they can commute 2 hours by themselves to work and back every day. They are ignorant sheep who go by this logic: Drilling produces oil, so, more drilling must be better. Let’s do it!!!
http://news.yahoo.com/s/nm/20080221/pl_nm/energy_congress_legislation_dc;_ylt=AqRbUgIBEVPn4iTqjOqt1msPLBIF
your opinions please.
My own is that the present system is not improving and not moving fast enough w/ regards to alternative energy research (the $18 billion might be better spent on alternative energy tax break for everyone)….my own personal opinion is that any money given to oil companies is not guaranteed to be invested in oil/gas production or alternative power and is simply a political reward
You are correct.
An oil well in a reservoir has a drainage area of 1000 acres (assume circular cross section, 1 acre = 43560 ft2). Oil is being produced at steady state condition. The well is water driven and the hydrostatic pressure at the reservoir boundary is 6000 psi. The bottom hole (well bore) pressure is 4500 psi. The skin effect is 10. The vertical permeability of the reservoir is 10 md. The reservoir net thickness is 50 ft. The oil viscosity at the reservoir conditions is 1.7 cp (assume constant viscosity). The formation volume factor is 1.1. If well radius is 0.328 ft. calculate the steady state production rate of crude oil.
It has been decided to increase the oil production rate by 30% in two ways:
1-Decrease the well bore pressure.
2-Change the skin effect “s”.
a) Determine the reduction in wellbore pressure to increase the flow rate.
b) Determine the change in skin effect.
c) Although theoretically both methods should be applicable, which method is preferred (considering practical issues).
In above, an error was found in estimation of the drainage area. The actual drainage area was 50% lower. What would be the effect of this change in production rate? Calculate the new production rate.
Prepare a graph of production rate against drainage area and explain the result.
Is the production rate lower for a larger reservoir? Why? Explain
As a result of a number of wells drilled in the surrounding area of the well in above, the drainage area has been decreased by 20 percent and it is triangular (equilateral) in shape with the oil well at the center. Calculate the production rate. The average pressure is assumed to be 15% less than the reservoir boundary pressure.
I can see why you are having a problem with your question. You need to pay closer attention. This is not about oil refining at all but rather oil production.
Video describing my home veggie oil filtration set up. Specifically the dewatering step.
I filter used cooking oil from a local restaurant and burn it as fuel in my 2001 diesel Volkswagen Jetta TDI. And I’m about to explain and show everything I did to accomplish this.
More info at http://smellslikefries.blogspot.com/
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Opium from Afghanistan provides more than 90 percent of the worlds total supply, funding international drug syndicates with billions of dollars in profits every year.
According to a recent report issued by the United Nations and the World Bank, the U.S.-installed government has established a complex pyramid of protection and patronage, effectively providing state protection to criminal trafficking activities.
this is total corruption and a false war
with underlying motives,
nothing to do with 911 as this was a false flag attack,
the british forces fighting on 2 fronts in iraq and afghanistan,with a sizeable force in the falkland islands,
and smaller units in other parts of the world is designed to weaken british forces and except the euro army
Afghanistan could be more important to America’s oil supply than even Saudi Arabia. In 1997 BBC News reported that the American Oil company UNOCAL tried to construct a pipeline from The Caspian Sea.
The Caspian Sea is a California-size body of salt water — the world’s largest landlocked body of water — that may sit on as much as 200 billion barrels of oil, which would be 16 percent of the Earth’s potential oil reserves. Even at today’s low prices, that could add up to $3 trillion in oil. (compared to Saudi’s 250 billion barrels of oil and America’s own 22 billion barrels – New York Times.)
The pipeline was to run from Turkmenistan via Afghanistan to the Port of Karachi. However the Taleban refused. Until now America has not been successful in persuading the Taleban to change its mind.!!!!
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In this NASA video segment learn about offshore oil drilling. Color animation is used to demonstrate how oil is collected from the ground. This segment also discusses oil polluting the ocean.
Duration : 0:2:49
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Invest in the hot oil and gas exploration and production stocks that Jim Cramer from CNBC Mad Money invests his money in Oil companies are making hot profits and big gain and you can make some big gains if you pick the hot stocks that www midcapreporter com recommends These are the stocks to buy They have advice about smallcap midcap and microcap stocks and even penny stocks and OTC One of the stocks that Mid Cap Reporter the only place for the mid cap investor recommends is Energetic Holdings Invest in the stock to play and buy ENRH PK
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Alberta is a province in Western Canada. The Rocky Mountains cross the territory, which has a number of national parks. But it is also home to an industry which is starting to exploit huge mineral deposits…the oil sands, Canada’s most important source of petroleum.
A third of the world’s oil sands are located here. But the mining of the substance is causing massive environmental destruction. And extracting crude oil from sand is very energy intensive. The emissions of CO2 are three times as high as with standard methods of oil extraction.
The oil sands industry is the largest single source of greenhouse gasses in Canada and the quantity of emissions is set to rise as the industry expands.
Because the thirst for oil is so great in the neighbouring US, Canada will hardly be able to meet its Kyoto protocol commitments.
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Interview with Nigeria’s Rivers Region Governor Rotimi Amaechi
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