I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Aug 10, 2006 8:51 pm Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
Hawkcreek wrote:
Even if ANWR were released for drilling today, it would be at least 4 or 5 years before any oil from it hit the pipeline.
Seven to 12 years are estimated to be required from the time of approval to explore and develop ANWR to the first production of oil.
From first production to peak will take 3 to 4 more years where the production rate peaks at .9 million barrels per day. Mean (Expected)10.3 bbls = .9 mbpd
2025 ANWR produces .9 mbpd of oil if started today. _________________ A Saudi saying, "My father rode a camel. I drive a car. My son flies a jet-plane. His son will ride a camel."
Live in Arizona? Check out: http://sustainablearizona.org and read my blog.
Posted: Fri Aug 11, 2006 5:51 am Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
Code:
BP has said it will replace 16 miles of pipeline at the site after corrosion was discovered on an oil transit line.
The UK oil giant owns a quarter of Prudhoe's output, the remainder being owned by ConocoPhillips and ExxonMobil.
Estimates suggest repairs will cost BP about $100m (£52.7m).
From WikiPedia
Code:
he main Trans-Alaska Pipeline runs north to south, almost 800 miles (1,300 km), from the Arctic Ocean at Prudhoe Bay, Alaska to the Gulf of Alaska at Valdez, Alaska, passing near several Alaskan towns, including Wiseman, Bettles, Livengood, Fox, Fairbanks, and Glennallen [see map].
So the replacement cost is around $5,000m. So the Best Pipe (BP) company will need to start saving up to take care of this because they enjoyed a nice ride for a long time not taking care of the problem.
So to replace the pipeline we are talking about _________________ Men argue, nature acts !
Voltaire
"...In the absence of the gold standard, there is no way to protect savings from confiscation through inflation."
Anybody know how much more oil this would take of the markets?
"BP is to decide early next week whether to proceed with plans to fully shut the Prudhoe Bay oilfield in Alaska, which accounts for 8% of US production." _________________ http://www.youtube.com/watch?v=xSFLSTb5KfU
WASHINGTON (Reuters) -- BP PLC said Friday it will keep the western half of its Prudhoe Bay oil field online, enabling the company to get the field up to half its prior output despite pipeline corrosion.
BP plans to raise production from 150,000 barrels per day to an expected 200,000, half the field's previous capacity, by the end of August, the company said in a statement.
_________________ "It is certain that free societies would have no easy time in a future dark age. The rapid return to universal penury will be accomplished by violence and cruelties of a kind now forgotten." - Roberto Vacca, The Coming Dark Age
Joined: Dec 18, 2004 Posts: 4886 Location: One Mile From the Columbia River
Posted: Sat Aug 12, 2006 9:17 am Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
Nah, I doubt if it's mainly political pressure... BP's primary concern is it's stockholders. It's financial pressure.
200,000/day x 120 days is 24 million barrels. At $75 that's $1.8 billion. That's the main reason to keep some oil flowing. _________________ Got Dharma?
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Wed Aug 23, 2006 9:42 pm Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
Well, well..it's not going well:
Quote:
August 23, 2006 10:28 PM
BP says Prudhoe Bay output falls to 110,000bpd
ANCHORAGE, Alaska (Reuters) - BP said on Wednesday production at its Prudhoe Bay oil field in Alaska, the largest in the United States, fell to 110,000 barrels per day (bpd) due to a technical fault. A company spokesman said the reduced output would last for several days. Production had previously been about 200,000 bpd, around half the field's normal output.
ANCHORAGE, Alaska — Production at the Prudhoe Bay oil field was reduced by another 90,000 barrels on Wednesday when a problem was discovered in a compressor, according to a spokesman for BP PLC, operator of the country's largest oil field.
The mechanical problem cut oil production at Prudhoe Bay from an already reduced 200,000 barrels to 110,000 barrels, said BP Alaska spokesman Daren Beaudo. It likely would take several days to complete the repairs, he said.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Sep 11, 2006 4:22 pm Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
Apparently, they are more concerned with keeping production up for now - by installing a bypass pipeline:
Quote:
Full production may precede line fix
PRUDHOE BAY: Output is at 250,000 barrels a day, and system looks serviceable.
By MARY PEMBERTON
The Associated Press
Last Modified: September 9, 2006 at 11:10 AM
BP has increased Prudhoe Bay production to 250,000 barrels a day, and officials on Friday said they are increasingly optimistic the oil field can be returned to full production before the company replaces corroded transit lines next year.
BP plans to install a bypass line on the eastern line by the end of October to possibly meet that deadline.
On Thursday, state regulators gave BP permission to temporarily connect a pipeline from the Endicott oil field into the Prudhoe Bay network to carry about 105,000 barrels of idled Prudhoe production. The temporary permission expires in one year, the Regulatory Commission of Alaska said.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Tue Sep 26, 2006 2:51 pm Post subject: Re: Corrosion prompts BP to shutdown Alaska oil field
BP says output from Prudhoe Bay’s Eastern Operating Area has ramped up to 100,000 b/d and is on track to reach 150,000 b/d by the end of Septmeber. The restart will allow BP to run several tests on a severely rusted pipeline. The tests, which could take about a month, will determine whether BP can continue operations on the line. If test results are not favorable, BP will shift production through a system of bypass lines that could be ready by the
end of October. They are still working on restoring the last 50,000 b/d.
Quote:
NEW YORK, Sept 26 (Reuters) - BP Plc (BP.L: Quote, Profile, Research) on Tuesday said it was ramping up production from its Prudhoe Bay oil field in Alaska and was on track to restart 150,000 barrels per day by the weekend.
Output from the field, the largest in the United States, was cut sharply in early August after BP found a spill from a severely rusted line. The production cut triggered a spike in energy prices and a firestorm of criticism from U.S. lawmakers.
BP spokesman Daren Beaudo said the company had already brought 100,000 bpd of production back on line from the eastern section of Prudhoe Bay, bringing total output from the field to about 350,000 bpd.
By the weekend, the field will reach 400,000 barrels per day, he said -- just 50,000 bpd below full capacity.
The restart will allow BP to run tests through a five-mile (8 km) pipeline segment that carries oil from processing facilities on the eastern half of the field.
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