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RE: Ya'll need some Awl? We got some.
The fracking industry - from what understand of it - is a bit of white elephant...??(ie economically not viable for sub $100 a barrel or something)
This is from stuff a couple of years back, when I had a little look at it...
(It seemed to me at the time, to be a bit of a 'folly'.)
and some of us are old enough to remember the seventies.
.. it was the US coming of the gold standard that caused the oil crisis. The dollar value reduced. The war was just the excuse...
The fracking industry - from what understand of it - is a bit of white elephant...??(ie economically not viable for sub $100 a barrel or something)
or something.
Nope.
Every gallon of oil for at least, oh I dunno...the last hundred years?
Has been produced by the use of fracking.
fracking reduces the cost of production.
it does not increase it.
I use the term 'fracking' for shale oil extraction, not pump oil extraction in vertical wells. (to be clear)
https://www.investopedia.com/articles/active-trading/051215/cost-shale-oil-versus-conventional-oil.asp
Where am I being stoopid?
cause all wells are fracked.
and the anti-human writing that is making a LOT of ASSumptions.
comparitively short production life... is the most glaring.
see 'abiotic' oil... and re-fracking.
If you mean 'shale oil' best to be clear.
that's like saying 'horse power' when you only mean a real horse.
words matter.
but you're still wrong ...once the well has been drilled, the cost is , pardon the term. SUNK.
it doesn't matter what the price of oil is from that point on. That oil well just keeps on pumping till it runs dry.
No NEW wells are drilled when the price reaches a certain point...
BUT WAIT...There's MORE.
?
what was once impossibly difficult/expensive is suddenly SO last wednesday....easy peasy and cheap.
Wait till you see what we anticipate NEXT week.
The oil and gas industry is at the bleeding edge of technology.
(especially in Texas)
..let me do some digging.....but not for oil..
consider 'pneumatic steerable drill heads' in your spare time.
funny you should say that, as that's exactly what I was thinking of considering..
😂
we'll talk about lasers, teleoperation, and downhole XRay defraction gradients some other time.
(SO thirty years ago...imagine what they have now)
(of of my brothers was a petroleum engineer...the other one was a geo physicist)
You can, but I'm not!
lol
...So you had a brother who was an engineer and made from petroleum. I'll guarantee he was a non.
smoker.
Having your cigar out on the porch is starting to make sense now...
(...I'll get back to you on the geo physicist..)
something, something, something
Nope.
lol, ok.
It's true that the cost per barrel for fracking was around $100 10 years ago when it was a brand new technology. Shockingly the technology has been improved over the last ten years bringing the average cost below $50/ barrel. The beautiful thing abut this style of oil extraction is that it's relatively easy to shut down when prices are low and can be quickly brought back online when the price makes it profitable. The bad part for the US is that these wells deliver a light sweet crude that most of our refineries are not set up to turn into gasoline. Plus they have the troublesome side effect of producing massive amounts of natural gas we're not ready to handle, but I believe they are successfully coming up with solutions of this problem too.
ok. I need to learn more...