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Home > Energy Week > 177 - Will oil demand exceed 2019 levels? | Is OPEC to blame? | Michael Parrella & John Vandy GTherm
Podcast: Energy Week
Episode:

177 - Will oil demand exceed 2019 levels? | Is OPEC to blame? | Michael Parrella & John Vandy GTherm
Category: Government & Organizations
Duration: 00:52:58
Publish Date: 2021-11-01 20:54:48
Description: - Goldman Sachs says global oil demand is nearing 100 million bpd and set to exceed this number in early 2022 with jet fuel demand growing.

US energy secretary blames Opec ‘cartel’ for high petrol prices
https://www.ft.com/content/cecf912d-705e-47b0-9ceb-911e7c517fd8
- Is OPEC just an all purpose villain here?
- energy prices are starting to impact consumer spending

Oil Rises on Speculation OPEC May Spurn Biden’s Appeal on Output
https://finance.yahoo.com/news/oil-drops-start-key-week-231313201.html
- SPR release vs. Drop sanctions on Iran?
- If US released 100m barrels of oil, that's only 1 days worth of global oil consumption so it wouldn't have much of an impact on prices

Biden says he worries that cutting oil production too fast will hurt working people
https://www.npr.org/2021/10/31/1050958992/biden-says-he-worries-that-cutting-oil-production-too-fast-will-hurt-working-peo

Prince Charles calls for 'warlike footing' in climate fight as world leaders gather
https://www.nbcnews.com/news/world/cop26-prince-charles-warn-world-act-climate-change-rcna4217
- Is Prince Charles encouraging using the military to force the end of fossil fuels?

Special Guest GTherm
- integrating water flooding, Co2 flooding and water pulsing to impact well
- generating electricity from wells to run oil field and using that electricity for other purposes
- CO2 is valuable and can be captured and injected back into the reservoir for CO2 flooding without having to pay for CO2. Can also inject it into a vertical greenhouse to increase agricultural output.
- electricity produced won't go into the grid, but can be used to feed data centers, for high energy processes like cement.
- Bitcoin mining centers are huge in amount of electricity they consume - more than traditional data centers. Pilot program to provide power to bitcoin mining center in Texas. Clean operating data centers too.
- This system is used for depleted fields. Optimized existing processes and combined them into a fully integrated system.
- Better than carbon capture? Profitability is key.
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