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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
High oilprices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online.
For example, at peak oilprice in 2008, Indonesia was spending 40% of its budget on transport fuel—more than health, education and infrastructure development combined. ” Some of the main lessons drawn from the report include: Fossil-fuel subsidies absorb serious amounts of money.
billion) were all in the top 10 of investing countries while more than $1 billion was invested in Indonesia, Chile, Mexico, Kenya and Turkey. Another challenge was, at first sight, the impact of the 50%-plus collapse in the oilprice in the second half of last year. Additional to China, Brazil ($7.6 billion), India ($7.4
They offer the prospect of increased market competition and oilprice moderation and can help reduce the dependency on fossil fuels. Further worries include the impact on water resources.
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