sparky wrote:.
Fracking literally exploded on the world consciousness , and billions were to be made and unmade in a frenzy
sparky wrote:Now I wonder if there is some other technical development , already in existence , which could transform the crude oil business
sparky wrote:Maybe there are other possible technologies already in existence which could be the seed of a revolution
Now I wonder if there is some other technical development , already in existence , which could transform the crude oil business
sparky - Just continued tweaking of current tech. Nothing to kick off another drilling boom. Except for high oil prices, of course.
Maybe we ought to ask if in 50-70 years Exxon will rule solar? Will the oil companies, the majors especially, be able to make the leap to the next iteration?
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
I ask because historical quirks interest me personally and if the Shale Boom had started in early 2004 and ramped up as prices rose in 2005-2006 I think there is a fair chance the idea of Peak Oil would have been a much harder concept to sell in 2007. By then prices would have supported an explosive boom level of fracking just as they did from 2011-14 in the real world. I doubt oil would have ever gotten to $147/bbl in 2008 if the Fracking boom were going on at the time, a lot of the impetus for that spike was fear of future shortages.
rockdoc123 wrote:SKADA has been around for decades but it is still only used sporadically around the world. Very few companies employ active real time monitoring while drilling although the technology has been around since the eighties (it was used extensively in the Canadian Beaufort drilling program). The only pipelines that have full SCADA real time monitoring are ones where there has been terrorist or criminal activities associated with pipeline bursts (eg. Colombia and Mexico). How many companies actually real time monitor right from the wellhead through the field gathering system, through the main trunkline and through the plant? I suspect they can be counted on one hand.
When the economics warrant it my guess is the majors will begin to diversify at a greater rate, that isn't the case now however.
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