How do they own the IP? Normally if you have something through a university, the IP is co-owned by the university through a joint research agreement. Can you show me patents or patent applications that I can look up online?

They have exclusive license on the Rice tech and are constantly updating their agreement to include all relevant new IP. They are also building up their own independent IP portfolio.

As for the patents - I'll send you a PM.

In case anyone didn't know, basically everywhere there is/was low cost sand/sediment oil, there is shale oil/gas nearby. This means even after Saudis run out of the easy oil from sands, they'll have giant shale oil wells to drill.

Bump: US posts first month in 70 years as a net exporter

And the future is bright:

We just topped 9 million barrels per day.

People that bet against human ingenuity continue to lose.

Funny story. After 2 years of a major cost savings initiatives and upgrading the plant to be more efficient, they went from losing money to making 80 million a month profit where I work. This is in Alberta's oilsands producing 130k bbl/day. The margins are only going to increase after the upgrades that are scheduled for 2020.

Nice anecdote. And yeah, if oil sands are already pulling a profit at $60/barrel, the peakers have nowhere to hide. We discussed earlier about the vastness of recoverable shale reserves. We have > 50 years left at a cheap price.

Then for the next stage we have methane hydrates, which are larger than the entire planet's oil, gas and coal reserves put together - which are vast (there are 150 years of coal left for example). Methane hydrates are extractable, just not economically yet, but neither was shale.

The world has many hundreds of years worth of ample fossil fuels it seems. Has anyone who's ever predicted global resource depletion ever been correct in the history of the world?

Updating this thread for posterity: Peak oil didn't happen but peak oil storage has definitely happened:

That's right, they're paying you to take the oil.

lol great bump

RIP jiggs, confirmed bankrupted anyone and everyone who ever followed your wisdom

Legions of trolls, mostly Pepe types, still wildly unclear on the difference between short term volatility and long-term promise. ... As if crushed demand due to a global pandemic has nothing to do with sunk oil price, saving their argument for another round.

Meanwhile:
https://oilprice.com/Energy/Oil-Pric...ly+News+Update)

According to the IEA report, since 2014, the global average level of resources approved for drilling for new conventional crude oil projects each year has been closer to 8 billion barrels, or about half of what is required to fully meet global demand by 2025. The same report estimated that US tight liquids production would need to grow an additional 6 mb/d by 2025, roughly equivalent to adding Russia’s production to the global oil balance over the next 7 years, to meet the shortfall.

and, before anyone says it, the prognosis for shale to keep riding to the rescue was terminal long before COVID-19:

https://oilprice.com/Energy/Energy-G...ly+News+Update)

That adds up to a gap of around 1.4 billion barrels of oil and gas over 30 years, the WSJ says, or around $60 billion at current prices. Put another way, the 29 largest shale companies are set to produce $60 billion less value than they initially told investors.

nevermind that shale doesn't make diesel. .... We are in the midst of peak. 2020 was always the year. I've been mentioning it here for a decade.

Wait Jiggs is back calling peak oil now in 2020? I feel warm inside.

Omg, omg, omg, omg - It’s the same report Jiggs posted and we made fun of 5 years ago (just the years have changed). So amazing.

https://forumserver.twoplustwo.com/s...3&postcount=20

If there's one thing that signposts peak oil, it's negative oil prices.

Are we there yet?

On a more serious note, I ask:

Are we going to see $200 oil? ATH adjusted for inflation is ~$197 if I'm not mistaken

it's called "the long emergency" for a reason... Mock it as some of you like, but effects don't need to magically change on a razor's edge at midnight on date X to suit your argument. Conventional oil production DID plateau, some 15 years ago... Detractors are basically beating their chest due to unconventional production from fracking, which is a money sink when all costs are factored, and debt servicing.

the dynamic of unbalance due to net energy depletion is unfolding right now, whether you choose to accept it or not, and instead blame Pelosi or Putin or Bernanke or Yellen. It may take years for some LOLy holdouts to admit, but no one cares whenever they come around.

What's the national debt at now? Do you think this new perpetual era of unbalanced federal budgets is just due to "liberal spending" and "tax breaks?"

I don’t know you or why the hilarious « hate » on you but from what the few post I read from on you It sound reasonable shrug.

Im not saying I agree with Jiggs, but the psychological/emotional reaction to his thesis is really weird.

Very noticeable in politics, very reasonable posters would completely abandon intellectual honesty when engaging with him and it was really really in yer face bad.

It was a shame because I was interested in his thesis and wanted at times to be critical but there was such a horrible heat to light ratio in any debate he was in actually getting to the meat of his ideas was impossible.

I don't think he's been proven right or anything, but reading through the thread, if his detractors were right that oil was so easy to produce because of technological advancement then the price wouldn't be 120 right now. Just the potential of the spigots being turned back on would be a negative headwind.

food/oil prices going sky high is the type of thing that overthrows governments and causes massive waves of instability, if they could produce more and bring the price down, they would.

Yeah, our government has no reply for the short or medium term. They dumped the SPR and it did nothing. They were bailed out with demand destruction due to China lockdowns and it did very little for a short time period. This will be very interesting how it plays out.

Just to be clear, I don't have an opinion on Jiggs' overarching thesis

I bumped the thread since they re-emerged on this topic and this thread is quite relevant imo. I don't visit 22 as often as I used to, but I intend to eventually read the 2010 and 2014 threads. I'm interested

I posed a genuine question tho...Are we going to see ath oil prices again? Why or why not?

OFAIK I think what you’re missing is when this thread was originally posted Jiggs had been banging on about Peak Oil for, 8 years at that point? in 2014. At least since 2008 I know for a fact.

Jiggs, if you actually earned a living off of Peak Oil, even tangentially, you win the argument. You didn’t, but with the very small chance you did you should be congratulated.

Takes time for production to increase. A lot of oil is consumed daily and a lot has to happen before it can be consumed. Factor that little to no expansion or investment the past few years and the hostility towards the industry by governments we have predicably found ourselves in this situation. Not to turn this political but a lot of the current price is due to government policies. Do you think gas would be this high if Trump was currently president?

As you indicated it takes time for oil production increase - Biden has only been in office 18 months so not sure how much current supply can be blamed on his oil policy. Plus 260 domestic producers went bankrupt over the past six years, many due to the drop in demand during the pandemic.

Was jiggs reappearance the top? that would be something