What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
--Colin Campbell
USAReevaluating Hubbert's Prediction of U.S. Peak OilPublication date: 2006-05-16 First published in: Transactions American Geophysical Union Abstract: In 1956, M. King Hubbert, chief consultant for the Shell Development Company's exploration and production research division, forecasted that U.S. oil production would peak in the early 1970s. He subsequently updated this prediction using newer data, but the predicted timing of peaking did not change significantly (see Hubbert [1982] for a review and references to earlier papers). In 1971, U.S. annual production of crude oil peaked at slightly more than three billion barrels (bbl). Yet, Hubbert's model continues to be challenged by some. For instance, according to economist Michael Lynch, president of Strategic Energy and Economic Research, Inc., Winchester, Mass., it was only after Hubbert published his predictions “that the Hubbert curve came to be seen as explanatory in and of itself, that is, geology requires that production should follow such a curve” [Lynch, 2003]. Published in: EOS (Transactions American Geophysical Union), Volume 87, Issue 20, May 2006, Pages 199-219 Historical trends in American coal production and a possible future outlookPublication date: 2009-04-01 First published in: International Journal of Coal Geology Abstract: The United States has a vast supply of coal, with almost 30% of world reserves (BP, 2008) and more than 1600 Gt (short) as remaining coal resources (Ruppert et al., 2002). The US is also the world’s second largest coal producer after China and annually produces more than twice as much coal as India, the third largest producer (BP, 2008). The reserves are concentrated in a few states, giving them a major influence on future production. Historically many states have also shown a dramatic reduction in recoverable coal volumes and this has been closely investigated. Current recoverable estimates may also be too high, especially if further restrictions are imposed. The average calorific value of US coals has decreased from 29.2 MJ/kg in 1950 to 23.6 MJ/kg in 2007 as U.S. production moved to subbituminous western coals (Annual Energy Review, 2007). This has also been examined in more detail. This study also uses established analysis methods from oil and gas production forecasting, such as Hubbert linearization and logistic curves, to create some possible future outlooks for U.S. coal production. In one case, the production stabilizes at 1400 Mt annually and remains there until the end of the century, provided that Montana dramatically increases coal output. The second case, which ignores mining restrictions, forecasts a maximum production of 2500 Mt annually by the end of the century. Published in: International Journal of Coal Geology, Volume 78, Issue 3, May 2009, Pages 201-216 Biofuels - The good, the bad and the unlikelyPublication date: 2008-12-05 First published in: www.peakoil.net Abstract: The US consumed approximately 7.5 billion barrels of oil in 2007. Approximately 2.5 billion barrels were produced in the US and another 5 billion barrels of oil were imported. See reference 1. The ability of the US to import oil will decrease sharply and the cost per barrel will increase significantly in the next few years after oil has peaked and world oil production starts declining. A major goal of the Energy Independence and Security Act of 2007 is to reduce US dependence on imported oil. In 2007 ninety-six percent of US transportation fuels were derived from oil and sixty-nine percent of US oil was used to make transportation fuels. See reference 1. US gasoline consumption increased steadily at a rate of about 2 billion gallons per year during the period from 1986 through 2006, reaching almost 143 billion gallons in 2007. This is the equivalent of about 3.12 billion barrels of oil. US distillate fuel oil (diesel) consumption was about 65 billion gallons in 2007. This is the equivalent of 1.6 about billion barrels of oil. Two popular biofuels are ethanol and biodiesel. In 2007 the US produced approximately 6.5 billion gallons of ethanol and 500 million gallons of biodiesel. Increased production of these fuels to 36 billion gallons per year by 2022 is a key aspect of the US Biofuels program defined in the 2007 Energy Act. Published in: www.peakoil.net
» Cantarell Is Not Mexico’s Only Oil Production ProblemPublication date: 2008-08-01 First published in: Pipeline & Gas Journal Abstract: t 1.5 million barrels per day (bpd), oil from Mexico comprises about 11% of U.S. imports. As a top-three supplier to the U.S., Mexico has been a consistent and reliable source of oil for years. In the first half of this decade, that role increased even further as growing U.S. demand was met Since 2005, however, it has been increasingly apparent that Mexico’s largest oil field – Cantarell – is in irreversible decline. Cantarell accounts for 26% of Mexico’s proven reserves and provides more than half of the nation’s oil output. But the field peaked in 2005 at 2.1 million bpd and by 2008 has fallen to only 1.46 million bpd – a decline of 31%... Published in: Pipeline & Gas Journal, August 2008
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