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"New" Saudi oil field?
This past weekend I was engaged in a discussion with a buddy and the topic, the economy, touched upon Peak Oil (actually I steered it that direction). He dismissed it out of hand by saying that Saudi Arabia had a huge new oil discovery that was being developed. He said that he watched it on 60 Minutes. Before I could respond our conversation was interrupted by kids and wives. The only thing I find was this but it's over two years old. Anybody know what else he could have seen? I'd like to know before I follow up on this conversation.
Thanks in advance.
Print
I saw that piece, too. It's a known oil field like Ernest stated.
Also, they were demonstrating horizontal drilling and plans for steam injection/flooding. Basically more expensive recovery methods used when the easy and cheap methods are gone.
Remember, it takes a lot of energy to pipe water from the ocean a few hundred kilometers, then boil it and pump it into the ground.
Poet
I did do a quick check of the Oil Drum and they have countless articles and graphs. I didn't have time t really go through many, but here are a few. I would suggest going to YouTube and searching Matt Simmons. He gave many talks about the Saudi's situation in his book. It was, "Twilight in the Desert." I'm sure there are some interviews about it.
http://www.theoildrum.com/node/7258
http://www.theoildrum.com/node/7149
Cheers,
Ernest
Poet is right, too. Think about the EROeI of fields you have to pump so much water into and from so far. There must be back side of the curve oil left.
I did do a quick check of the Oil Drum and they have countless articles and graphs. I didn't have time t really go through many, but here are a few. I would suggest going to YouTube and searching Matt Simmons. He gave many talks about the Saudi's situation in his book. It was, "Twilight in the Desert." I'm sure there are some interviews about it.
http://www.theoildrum.com/node/7258
http://www.theoildrum.com/node/7149
Cheers,
Ernest
Poet is right, too. Think about the EROeI of fields you have to pump so much water into and from so far. There must be back side of the curve oil left.
Thanks for the leads guys. Since I don't have TV sometimes I'm at a disadvantage WRT the latest (mis)information floating about. What I was being told just didn't sound right with what I knew but, hey, if it was on 60 Minutes it had to be true. Right?
Earthwise,
The people in the know, in power, don't talk about it or put a positive spin on what is happening. Matt Simmons was on Dick Cheney's Energy Summit, but he had the guts to go out and preach Peak Oil. Why do you think Cheney did not want information from those meetings released? I have a copy of a Cheney speaking in London in 1999 about Peak Oil to a group of engineers. I think Chris is right about peaking in 2004 in conventional oil. I, myself agree, but think we are starting to fall off the cliff and will be in full force in 2012.
Cheers,
Ernest
I saw that piece on 60 minutes. I believe that is a field, already known by them, but they were finally developing it to replace capacity they were loosing. It is probably sauer oil, as well. The Saudis have spent millions doing geoligic surveys of their country, so I would doubt that there is a drop of oil they do not know about. The 60 minutes piece was just a PR piecce to keep KSA's reputation, so they can borrow money when they need to. Just keep in mind they have hardly raised output, if at all, with prices so high.
Remember, too, all the leaks of information indicating KSA does not have the amounts of reserves or production they say they do. I would suggest searching the Oil Drum for some information on their production.
Cheers,
Ernest