Shawn Bartholomae, Senior Partner of Silver Tusk Oil Company, LLC breaks down theory on Peak Oil
Is the world running out of oil? According to Mr. M. King Hubert, an American geophysicist who wrote the theory on Peak Oil, it is. Much of the nation’s energy policies and strategies regarding the supply of energy for the remainder of this century were based on Mr. Hubbert’s theory, which follows the production curve of a bell shaped graph.
Regarding this theory, Mr. Shawn Bartholomae, Senior Partner of Silver Tusk Oil Co. states, "Things have changed for the industry. The formerly held beliefs embracing the principles of Peak oil are no longer valid."
The Peak Oil theory states that oil producers would not be able to sustain the needs of the industrialized world for much longer. This year the "Oil Drum", a popular forum that openly discussed the implications of the perils that our planet is placing itself in died a quiet death.
The world’s estimated reserves have risen due to new discoveries and new techniques of producing oil; therefore, few people currently feel that oil will be depleted or seriously curtailed to the point of causing massive industrial shortages.
Shawn Barholomae states "Advances in science and current production methods are enhancing the output levels of our petroleum resources. As little as ten years ago, tight oil or shale oil, were not even considered a part of a nation’s stated reserves. These newer technologies are giving the oil and gas industry a new face".
According to the Peak Oil theory, at some point production of both oil and gas would reach a peak as existing fields continued to age. Additionally, if fewer fields are discovered, the nation’s production of oil and gas would go into an unavoidable decline. The newly located fields (a steadily shrinking number) would prove to be incapable of sustaining the needed levels of production.
Matthew Simmons, a world famous Houston geologist, made quite a stir with his book "Twilight in the Desert" wherein he narrated themes of energy shortages beyond comprehension. Mr. Simmons based his prediction on studies of hundreds of internal documents from Saudi Aramco. These well- developed theories predicted a world wide economic collapse based the realities of Peak Oil.
On a positive note, these theories have fallen short of their predictions, both within the United States and across the world, as they fail to consider the impact of new technology. The wide spread emergence and utilization of hydraulic fracturing, horizontal drilling, expanded computer graphics and MWD technology (monitoring while drilling) have given the petroleum industry an entirely new look.
The Senior Partner of Silver Tusk Oil Co. Shawn Bartholomae states, "The former planners and policy makers failed to adequately consider the magnitude of the non-conventional production revolution. These changes fully embraced the changes offered by a highly innovative science."
By combining the extending reach of the drill bit to shale or tight oil with the more productive horizontal drilling techniques, the sciences have made obsolete the earlier reserve charts and reports. As little as two decades ago, the vast oil and gas reserves believed to be in the giant shale formations of Texas, Pennsylvania and the Baaken Shale areas of North Dakota were dismissed as being beyond reach .
A great awakening was realized as technology improved with its innovative ideas on drilling and fracturing and the theories of Peak Oil slid into the background having been disproved and discredited
Shawn Bartholomae, the Senior Partner of Silver Tusk Oil Co. went on to say, "A reliable and competitive oil and gas industry is critical to a healthy economy."
In view of the abundance of shale oil and gas very few industry leaders are proponents of Peak Oil which gives American policy makers the freedom and confidence to promote a fully self-sustaining energy policy for America.
Silver Tusk Oil