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This is part four of our lecture series, “The Scarcity Myth.”   Last time we were together, we were speaking about abiotic oil, and the possibility that oil is not a fossil fuel.   Today,  I’ll present some of the most exciting evidence that supports this theory.

We’re on agenda item 6 if you’re following along on the slides.  Oil fields are renewable!   One of the most interesting things that I’ve learned in my study of oil is that  oil fields  that are declared empty frequently all of a sudden full again.   Of course, this doesn’t make much sense, especially if we believe in a fossil fuel theory, where old swamps and dinosaurs are compressed over time and turn into gas.  But if we believe the abiotic oil theory, that oil is simply seeping out of the middle of the earth, this theory becomes much more believable.  Take for example the Eugene Field in the Gulf.  It began production in September of 1972, but by 1989, production had fallen to about 4000 barrels per day.  Suddenly without any explanation that jumped to 13,000 barrels per day and scientists were called in to re-measure the field.   It was estimated to have 400 million barrels of oil left, up from only 60 million barrels a year earlier.  The Wall Street Journal reported that Eugene “is rapidly refilling itself.”  Since then,  the field has produced over 1 billion barrels of oil, all from  an oilfield that at one time was almost empty.

This was confirmed by the Woods Hole Oceanographic Institute (WHOI).  For those of you who do not know about WHOI, it is the organization that discovered the Titanic (Dr. James Ballard).  Of course, they’re one of the preeminent geological and oceanographic  groups in the world, and one of their scientist Dr. Whalen declared,  “I believe that there is a huge system of oil migrating deep underground” that explains how these types of fields could refill themselves.  This phenomenon is not limited to the Eugene Field, as it has been seen all around the world, in the North Sea, in the Niger Delta, in Indonesia, in the Trinidad basin, the Taiwanese basin, and in the Alaskan North Shore.  Amazingly fields that are declared empty are refilling and of course this only goes to support they abiotic theory.  Nothing else could explain how this could happen.

Moving onto agenda item number seven, depleted fields. We have many examples of fields that are declared empty, and all of a sudden have oil.  My favorite example is the Kern River, California example. That field was discovered in 1899 and in 1942 it was declared empty with 54 million barrels remaining. Sometimes, technology does not permit a field to be entirely drained and that’s what happened with the Kern River field.  Since 1942, 736 million barrels, that’s three quarters of a billion barrels of oil, have been pumped out, and now they estimate that there are 970 million barrels left.   How can this be possible?  The only way that makes sense is if the field is refilling itself from underneath!  This is also happening in the South China Sea off of Vietnam.  The field was declared empty their 1981 and it is still producing.  The White Tiger field off the continental shelf, where they dug a little bit deeper and went down to 2.5 miles, is now producing 280,000 barrels per day.  The Black Island field was producing 80,000 barrels per day, but that recently increased to 200,000 barrels per day.  In all of these fields, they are drilling in a granite base, not in sedimentary rock.   How do we explain this?  Well, the only explanation of course is that the oil is coming from someplace other than fossil remains.

Agenda item number eight; the fields that we have are also growing in size.  This is an incredibly unintuitive thing to realize and to discuss, but it’s true.   For example, we have the Kashagan field in Afghanistan, which was discovered in 1996.  At that time, it was estimated to have 2 to 3,000,000,000 barrels of oil.  Wells were dug.  They discovered that it actually had 13 billion barrels and now they estimate that it has 38 billion barrels.  In other words the amount of oil in a given field is increasing as we technologically learn how to extract it.

From 1981 to 1996, the volume of the largest 180 oilfields of the world went from 617 billion barrels to 777 billion barrels, and this does not count any of the new discoveries that we were talking about couple of days ago.  For 15 years, while we were taking oil out of these fields as fast as we possibly could, the amount of oil in those fields increased by over 150 billion barrels!   Again, I ask how is this possible?  The only possible way is that oil is coming from the center of the earth, and somehow being released to the surface areas.

The recovery rate 20 years ago was around 20 or 30%.   Today, we’re getting closer to 40% of the available oil out of each field.   A good question is, “How much higher will that go in 30 years?  Is it safe to say that we’ll be able to get 50%?”

In the 1990s, we were starting to believe that the Gulf of Mexico oilfields were drying, but in 2006 geologists announced that there were 1.5 trillion barrels of oil left in the Gulf of Mexico.   The Wall Street Journal reported on April 30, 2009 that the northern Louisiana fields, also declared empty at one point, now had about 200,000,000,000,000 ft.³ of natural gas, which is the equivalent of 33 billion barrels of oil!

Tomorrow, we’re going to finish up in this talk with a little bit about the political reasons for all this.   I hope that at this point you’re fairly convinced that the abiotic oil is at least a possibility.   Have a good day.

 Oil Scarcity Myth [9:04m]: Play Now | Play in Popup | Download

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3. The Oil Myth or We Will Have Oil Forever
4. The Oil Myth or We Will Have Oil Forever (Part 2)
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