Finding oil via electromagnetics
Now that the wells that have been produced for years are starting to become depleted there needs to be a new way to find new locations to drill for oil. Seismic testing has been used to find oil for years but that technology has about reached its upper limits. Now electromagnetics is supposed to be the next big thing. Since the deposits are not as abundant as before and the wells being drilled in deep water have cost up to $70 million, finding the reserves and being able to determine if they are worth the expense of drilling is becoming more important.
PS. I am obviously a petro major.
2 comments:
Tm, Please make sure that your original blogs have a hyperlink to another site that you can refer other students to as a reference. Blogging etiquette requires that there be a reference trail to follow. Perhaps there's a cool website that shows what a picture of the new electromagnets look like.
Comments, however, need not include any hyperlinks.
My bad on the weblink, Tom. I forgot that you can hyperlink the title of your post.
With respect to electromagnetics and finding oil reserves...does anybody think that the world is running out of oil? What would happen to the price of oil if we truly were "running out of oil"? I suspect the price would begin to rise (relative to the prices of other energy sources). If oil prices do rise significantly, wouldn't that tend to creat incentives to find alternative sources of energy--not to mention more intensive exploration for existing oil reserves. Higher oil prices would also tend to lead oil consumers to cut back on oil consumption.
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