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Exxon and Russian Operation Discovers Oil Field Larger Than the Gulf of Mexico
An anonymous reader writes The state-run OAO Rosneft has discovered a vast pool of crude in the Kara Sea region of the Arctic Ocean, arguably bigger than the Gulf of Mexico. From the article: "The discovery sharpens the dispute between Russia and the U.S. over President Vladimir Putin’s actions in Ukraine. The well was drilled before the Oct. 10 deadline Exxon was granted by the U.S. government under sanctions barring American companies from working in Russia’s Arctic offshore. Rosneft and Exxon won’t be able to do more drilling, putting the exploration and development of the area on hold despite the find announced today."
It's not so much oil running out. It is the easy oil running out, i.e. oil which has a high energy return on energy input. As humans we like to pick the low hanging fruit first. Coal mining is a good example, we go for the stuff on the surface, then open cast, then dig shafts. Ghawar field in Saudi is an excellent example, it is 150 or so metres down on dry land. You can shift big machines on dry land. Deep water horizon gulf of Mexico is an excellent example too the oil was in deep water, which presents logistical challenges and deeper down meaning more work is required to get it to the surface. The Russian find is 300 or so metres down and thus it is easy oil.
Even the shale gas estimates and the Canadian tar sands estimate etc are being revised downwards. They drill a few test wells, and interpolate and "guestimate" what lies in between. Let us see how this estimate holds up once the investment needed to further develop them are all reeled in and the time pay dividends come up.
sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
BioFilm's flagship product is Astroglide personal lubricant, aptly named, since Wray developed the clear, slippery, water-based product while working on a space shuttle at Edwards Air Force Base in 1977.
Wray, a chemist who was in the "bombs and rockets" business for 20 years, was working on the shuttle's cooling system when life took a surprising turn.
"I was trying to remove the oil from anhydrous ammonia and I ended up with this substance," he said.
You're going to suck until you stop making up stuff that can be checked withing ten seconds.
Ezekiel 23:20
Russia won't be able to make any use of that discovery without western technology. That's why they needed Exxon's help. So, this is a leverage on the Russians who depend on the oil money.
Of course we're still discovering it. The problem is that we've been consuming it faster than we're discovering more since the mid 80's.
years later and we're still finding the stuff
https://www.youtube.com/watch?...
Who logs in to gdm? Not I, said the duck.