Is Peak Oil Dead?

Jim Letourneau, P.Geol.Big Picture Guywww.JimLetourneau.com

Calgary Energy and Resource Investment ConferenceApril 5, 2013 9:30AM

Crap DetectionCrap detection - Hemingway's name for what digital librarians call credibility assessment - is another essential literacy.

If all schoolchildren could learn one skill before they go online for the first time, I think it should be the ability to find the answer to any questions and the skills necessary to determine whether the answer is accurate or not.

Howard Rheingold

Facebook IPO

Peak Market Cap

$104 Billion

Facebook

Athabasca Oil Sands

Sunshine Oilsands

Hubbert's Peak

The Hubbert peak theory says that for any given geographical area, from an individual oil-producing region to the planet as a whole, the rate of petrolum production tends to follow a bell-shaped curve.

Oil Price

GEORGE P.

MITCHELL

Innovation

Father of the Barnett Shale.

Started in 1981 - didn't take off until 1999.

Sold for $3.5 Billion in 2001

Primm, Nevada

Ivanpah Solar

86 permanent jobs

Walter M. Higgins Gas

~17 employees

Primm, NV

$500 million for 530MW - Gas

$2.2 billion for 398 MW - Solar Thermal

Niland, CA

Niland, CA

$77.4 million for 23 MW - Photovoltaic

$100 million for 90 MW - Gas

Data from Railroad Commission of Texas

Canadian Oil Production

Innovation

● Global conventional oil endowment 6-10 trillion barrels

● Global unconventional endowment 6-8

trillion barrels

● ~1.2 trillion barrels produced to date

Weyburn

IEA GHG Weyburn CO2 monitoring and storage project - Preston et al 2005

Weyburn

Cenovus Energy

Powerwave

Peak Oil

Examined from the vantage point of nearly 40 years, all of Hubbert’s forecasts are clearly too pessimistic, primarily because he failed to anticipate that technological breakthroughs would make E&P in hostile environments possible, and that new drilling and stimulation technologies would allow reservoirs to be developed in rocks then thought to be incapable of production.

Peter R. Rose

www.JimLetourneau.com

Jim Letourneau, P.Geol.Big Picture Guy