Falling (crashing) Gas Prices

[electroken]

These lower gas prices look great on the surface. However, my 401k plan has lost more value this year than I spent on petroleum products this year.

 

[Jambe]

Recoverable Reserves = A term used in natural resource industries to describe the amount of resources identified in a reserve that is technologically or economically feasible to extract. A new reserve can be discovered, but if the resource cannot be extracted by any known technological methods, then it would not be considered part of recoverable reserves. Recoverable reserves is also often called proved reserves.
mbpd = million barrels per day
kerogen shale = a precursor to crude bound in sedimentary rock. The largest deposit of kerogen is found in the Colorado/Utah/Wyoming deposits. It may be large reserve but recovering it would be very expensive, ~$60+/gallon of gasoline, so it will not be a useful source if ever. The EROEI would be negative.
EROEI = energy returned on energy invested
IEA = International Energy Association

Saved you from having to use Google...

 

[Jeff Porter]

Recoverable Reserves = A term used in natural resource industries to describe the amount of resources identified in a reserve that is technologically or economically feasible to extract. A new reserve can be discovered, but if the resource cannot be extracted by any known technological methods, then it would not be considered part of recoverable reserves. Recoverable reserves is also often called proved reserves.
mbpd = million barrels per day
kerogen shale = a precursor to crude bound in sedimentary rock. The largest deposit of kerogen is found in the Colorado/Utah/Wyoming deposits. It may be large reserve but recovering it would be very expensive, ~$60+/gallon of gasoline, so it will not be a useful source if ever. The EROEI would be negative.
EROEI = energy returned on energy invested
IEA = International Energy Association

Saved you from having to use Google...

Thanks very much! I use google 99 times out of 100 for research, definitions, learning, but this was the 100th time.

As addicted as we are to gasoline, one wonders at what price per gallon do Americans draw the line. Seems like many of us that have reserved an Elio have seen that price reached.

 

[zelio]

Recoverable Reserves = A term used in natural resource industries to describe the amount of resources identified in a reserve that is technologically or economically feasible to extract. A new reserve can be discovered, but if the resource cannot be extracted by any known technological methods, then it would not be considered part of recoverable reserves. Recoverable reserves is also often called proved reserves.
mbpd = million barrels per day
kerogen shale = a precursor to crude bound in sedimentary rock. The largest deposit of kerogen is found in the Colorado/Utah/Wyoming deposits. It may be large reserve but recovering it would be very expensive, ~$60+/gallon of gasoline, so it will not be a useful source if ever. The EROEI would be negative.
EROEI = energy returned on energy invested
IEA = International Energy Association

Saved you from having to use Google...

Thank you for that concise report. You are the man and I personally appreciate your time and effort very, very much. :-) Z

 

[BilgeRat]

I used to think that $4.00/gal gas would change American driving habits / vehicle purchasing, but any more, I suspect that it would take prices somewhere north of $8.00 or even $10.00 to effectively change things. :-/

 

[Joshua Caldwell]

I used to think that $4.00/gal gas would change American driving habits / vehicle purchasing, but any more, I suspect that it would take prices somewhere north of $8.00 or even $10.00 to effectively change things. :-/

I used to never be able to see ahead in traffic due to all the big trucks and SUVs, now I can because most vehicles are cars. That is a definite change in vehicle purchasing.