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The Forum > Article Comments > Strippers suffering from low oil prices > Comments

Strippers suffering from low oil prices : Comments

By Michael McDonald, published 14/12/2015

With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely.

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Interesting, I had heard of the stripper wells but knew nothing of them.
Looks like they might be one of the catch 22s lying around.
2016 is shaping up to be very interesting.
Posted by Bazz, Monday, 14 December 2015 2:58:10 PM
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funny te pseudo scientist were convinced we would be out of oil by the year 2000. No wonder they had to switch the scare to gw.
Posted by runner, Monday, 14 December 2015 3:38:51 PM
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Strippers would be well advised to save what investment capital they have; then rollout very modest energy schemes, like a small thorium power plants or biogas production using local problematic waste and reuseable water!

It's just that, when confronting adversity, it's those who are able to adapt, who survive and or do extremely well!

Perhaps some of the smaller operators could survive as an energy co-op?
Rhrosty.
Posted by Rhrosty, Monday, 14 December 2015 5:14:12 PM
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Runner peak crude oil occurred in 2005. Why do you think we have such
a problem with slowing demand and development costs that cannot be met
with the sale price of oil ?
The stripper problems are just one part of the problem.
The Saudis are betting others will run out of money before they do.
It is a traditional race to the bottom.
Posted by Bazz, Monday, 14 December 2015 5:59:20 PM
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Peak oil demand may have happened in 2005 since then demand has been dropping.
50 years worth of proven oil has been identified and another 50 years worth of unproven oil. Seeing OPEC works in a forty year advance notice of oil supply, oil supply is secure, if anybody still wants it.
Most oil producing countries have little else to get income from that is why no one wants to limit their supply, so oil will be cheap into the foreseeable future.
Oil strippers canít compete with small output, some as low as five barrels a day.
Posted by 579, Tuesday, 15 December 2015 3:22:39 PM
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Yes 579 it will be available for a long time yet.
It just will not be used for burning, but it will be used for plastics
and many such processes.

It will not be used for burning because the cost of getting it will be
excessive just as has started to happen now.
Posted by Bazz, Tuesday, 15 December 2015 4:01:05 PM
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