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Saturday, December 10, 2016

Hello Petronas, What If Oil Hits US$12 Per Barrel?

This is some news about shale oil. Even if you are a househusband (like MO1) or housewife, do read this. In Malaysia, this will have a huge bearing on our future. 

If you are a Malay or wannabe Malay, then this news is even more relevant because Malaysia is an oil producing country. Oil revenue funds almost all the gomen's wastage.

Before that something about our Budget. 80% or more of our gomen's Annual Budget goes towards paying salaries of 1.6 million civil servants and paying interest on debt.  What are known as Operating Expenditures.  

Only 20% or less of the Budget is spent on Development Expenditure (ie building new roads, schools, hospitals, universities etc).

30% or more of our gomen's revenues used to come from Petronas. Petronas will most likely also go bust (face negative cashflows) - if it has not already. 

That 20%  of the Budget spent on Development Expenditure will grind to a halt first.  After that the 80% of the Budget spent on paying salaries of 1.6 million Civil Servants will also face severe constraints.  

These things will happen (or are happening) if the price of oil hovers at US40-50 per barrel. Or worse if the price of oil drops even more.  

Shale oil is oil that is found inside shale rock formations.  These are solid rock formations. The technology to free the oil from the shale rocks costs money. 

But since it is a technology issue, the technology keeps improving. Meaning the costs become cheaper. 

There is now a newer technology. In this new technology, they are using microwaves to 'cook' the rock formations, to free the oil and at the same time boil underground water and turn it into steam, which will then help push the shale oil towards the bore hole where it can be taken to the surface. If you wish to know more please Yahoo or Google :   "Using microwaves to extract shale oil"
 
  • microwave shale formations with beam as powerful as 500 microwave ovens
  • cooks the kerogen, releases oil 
  • turns water in deposits to steam, pushing oil to wellbore
  • Once oil and water extracted, microwave can penetrate another 80 feet 
  • single microwaved well could pump 800,000 barrels
  • first systems to start producing by end 2017



 



http://www.americanthinker.com/blog/2016/12/new_technology_better_than_fracking_could_vastly_expand_oil_reserves.html

New technology better than fracking could vastly expand oil reserves
 
By Thomas Lifson

Hydraulic fracturing revolutionized energy production in US and cornered OPEC.

reality is American frackers can rapidly expand output.  

nightmare for corrupt petro-dictators 

new technology revolutionary substitute for fracking
microwaving shale to extract oil and gas.  

James Watkins reports in Ozy.com:

zap previously unextractable oil resources with microwaves
potential to kick-start even bigger energy revolution than fracking 
potentially “whole shift in the paradigm,” says Peter Kearl co-founder Qmast
pioneering microwave tech. 

BP, ConocoPhillips pouring resources into similar techniques

oil shales in Green River, across Colorado, Utah, Wyoming
US recoverable reserves could soar 
formation contains enough oil to last U.S. 165 years 
Microwave extraction could goose those numbers higher
more than 4 trillion barrels of oil in Green River Formation

don’t need water for process 
don’t have wastewater to dispose of 
microwave extraction might produce water 
one barrel of water for every three barrels of oil
natural gas that often is flared off be used to generate microwaves.

My comments :  The oil producers have known the existence of shale oil for centuries. 
But the technology to extract shale oil on a commercial scale was too expensive, primitive and environmentally polluting.

They had to mine the rock, crush it, heat it up and then extract the oil that flowed out.

But there has been a constant improvement in the technology to extract shale oil. 

There was a 'quantum leap' with new fracking technologies. They pump steam into the rocks which loosens the oil. With fracking US shale oil is now feasible even at US40 per barrel.   

Every step of the technology curve makes shale oil cheaper and cheaper. This new microwave technology may take oil price down even further.  US12 is just an oil flare.  

It is possible that oil per barrel will go below US40.  

Is anyone listening? What will you do? Do you know what this means? Do you understand the words that are coming out of my mouth?

Hiring Jamal Jamban is not the solution ok. 


Link :  https://youtu.be/0Rl9Cxc7uZA

There are simple solutions. There always are. Ask OutSyed The Box.  

Or you do not need to ask. Just die away.  Climb back into the trees.

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