Part 1 of 3 giving an overview of oil production and economics...

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    Part 1 of 3 giving an overview of oil production and economics in the mid-term. While focused on the US there is a lot of impact for the world and Australia's oil scene.
    I found it an interesting read. It also covers the basics very well and is useful to the layman.
    As always on WUWT, the comments can be as instructive as the article.

    "Most oil companies make final investment decisions (FID) based on the current price of oil, adjusted for the expected inflation rate over the anticipated project duration. High oil prices drew the industry to shale plays like the Bakken and Eagle Ford and out into deepwater. The industry’s “learning curve” made those plays even more economically viable at $60/bbl than they were at $100+/bbl. Peak Oil, as real as it is, simply doesn’t matter.

    As long as oil prices continue to climb at least as fast as the inflation rate, the industry will be able to meet the demand for refinery and petrochemical feedstocks for a long time to come… And North America is well-positioned to dominate the 21st Century."


    https://wattsupwiththat.com/2019/04/22/peak-oil-abiotic-oil-eroei-realish-things-that-dont-matter/
 
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