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Interviewer: "What accounts for your success, Mr. Getty?"

J. Paul Getty: "Some people find oil, some don't."

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2008 ASPO Report

Here is a report on the peak oil presentations at 2008 ASPO in San Francisco.

 Jim Buckee of Talisman gave the luncheon address, talking on the production company viewpoint. He differentiated between the volume available in a field, and the production rates that can be achieved at it. He said that Peak Oil is real, and illustrated this conclusion by discussing the decline in production rate from virtually all the major oilfields of the world. 90% of production comes from 10% of the fields and we know which they are. He then went through the list, which was dominated by the comment “in terminal exponential decline.” The depletion rate he quoted (after the 50% production point) was on average 10%.

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This entry was posted on Monday, November 3rd, 2008 at 5:20 pm and is filed under Peak Oil, oil supply. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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