US oil production will jump by a quarter by 2014

[sproqitman]

They look at the oil industry that supposedly "produces" oil, and then look at their supply / demand charts in which supply is "produced", and then the light bulb goes on in their heads and they say, `Wow, look. Oil is produced. The oil industry says so. That fits so perfectly into our charts. Oil will be produced forever. The supply / demand chart says so.`

Well, actually, oil will be produced forever. It's just that at $1000/bbl, no one will want it anymore. At $70-80/bbl, it made economic sense to pincushion North Dakota with wells and frac tight oil formations. At $80-100/bbl, it made sense to boil bitumen in Alberta. At $150-200/bbl, it will make sense to build nuclear reactors to pump superheated water 2 miles deep under Colorado to cook kerogen into an oil-like substance. At $1000/bbl, it will make sense to rip up asphalt parking lots and cook them back into oil and sand.

 

[mkjayakumar]

At $1000/bbl, it will make sense to rip up asphalt parking lots and cook them back into oil and sand.

LOL