Quote:
Originally Posted by Eclogite
Boersun, your definition of peakoil is incorrect. Please check out my earlier post for a correct definition.
Peakoil relates to production levels. Peakoil is the maximum production level.
Sorry, for curt response, but I have a lawyers meeting in twenty minutes.  |
Don't take no crap from no lawyers, Eclo...
...but any case, back to the thread:
Production levels of any oil well is determined by the oil price, to begin with, and the cost of recovering oil from the particular well.
Getting oil from a well to the refinery to the gas pump, takes oil. If it cost you ten liters of oil (for fuelling the whole recovery/refinery/distribution process) in order to supply the market with nine liters, you are fighting a losing battle and the well becomes unsupportable.
'Peak oil' says nothing about the amount of oil left in the wells - heck, there might be untold fortunes in black gold just lying there. But the cost of recovery will fatally impact production levels, making well upon well unsupportable and uneconomical.
I think we're explaining the same issue from slightly different angles here.
