Quote:
Originally Posted by Old Tele man
...my perverse mind translates “above ground elements of the equation.” to be the refineries...can't get but only 'so much' liquid through the same diameter straw eventually."
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My take would be either extraction or transportation - which is what tasdrouille alluded to. There's lots of oil that we currently have no feasable way to get out of the ground, either because it's locked into a formation that's difficult to extract from, or too dispersed within the formation to get out at prices people will pay.
- Locked in rock with no native ground pressure to drive it skyward
- Locked in formations where there's a tiny bit of oil
... and then some of those are any or all of that, and then you have ocean overtop.
People will mine tarsands in Alberta, or the plastercine oil in Venezuela ... but not if it were under 1500 feet of ocean.
That anyone's saying that the peak has been deferred doesn't sound like a stretch to me. Drilling activity was slow in Alberta for most of 2008. It was economics and changing government regulations, not that there is no longer any viable deposits to drill.