European Tribune - Comments - Countdown to 100$ oil (2) - the views of the elites on peak oil

Countdown to 100$ oil (2) - the views of the elites on peak oil | 30 comments (30 topical, editorial, 0 hidden)

Good news: a new oil field estimated at up to 1 billion barrels has been discovered in Utah. We can sleep soundly now! :*)

http://denverpost.com/business/ci_2823127

"A little-known Michigan energy company has made a wildcat discovery that is setting the economically depressed region ablaze with gossip and hopes for a boom. Some estimates peg the oil resource at 1 billion barrels. At that size, it would be the biggest U.S. onshore discovery in 30 years."

by asdf on Sun Jun 26th, 2005 at 05:15:45 PM EST

Re: there's plenty of oil! (none / 0)

1 billion barrels is better than nothing, but it is still less than 1/10th of Prudhoe Bay. As a rough guess, this field might have a maximum production rate of 100,000 - 200,000 barrels per day. For comparison, total US production is about 5.4 million barrels per day.

by corncam on Mon Jun 27th, 2005 at 04:18:02 AM EST
[ Parent ]

Countdown to 100$ oil (2) - the views of the elites on peak oil | 30 comments (30 topical, 0 editorial, 0 hidden)

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