Terrel Shields Blog

Welcome to my blog.

Where will Our Energy Come From?

“Oil, it’s always about oil. If we were a bunch of Bedouin running around the desert on camels, do you think the US would care?” – Kuwait businessman

 Electric batteries required for much of our electric storage needs.

 Lithium – Nickel – Cadmium.

 50% of our lithium is imported, any additional supply will come from overseas. Only a couple of places in the U. S. produce lithium.  NC and NV.

The world sources are Chile, Argentina, China,Russia, Australia,
Canada, and Zimbabwe.

 Nickel comes mostly from Canada, Russia, Norway, and South Africa

 Cadmium isn’t mined but is a by-product of zinc mining.  China, Japan, and Korea are the world’s largest producers, with Mexico, the United States, the Netherlands, India, the United Kingdom, Peru, and Germany next. About 15 other countries produce smaller amounts.

 Silica for solar panels is pure sand melted and formed into glass ingots then reprocessed by slicing very thin.  The process is very energy consuming and the efficiency of Silica is less than 10% usually.  A newer process of thin wafer panels relies upon creating a paste and literally painting on a surface.  The good news is that silica is abundant world wide.

 Matilda was a wind turbine located in Sweden. It produced a total of 61.4 GW·h in the 15 years it was active. It ceased in 2008.  At the end of 2009, worldwide nameplate capacity of wind-powered generators was 159.2 gigawatts  The US uses 3300 gigawatts.  There are roughly 60,000 wind generators (commercial size) in the U. S.  indicating we would need roughly 1.25 million wind generators to replace coal and gas fired plants. Also, we would need a substantial amount of backup generation for times when the winds are becalmed. 

 The additional cost of these standby generators (co-generation or peak generation) plus the huge losses of electricity between the areas where wind blows well (like the Great Plains) and where the juice is actually needed, means the advocates of wind generation have understated the actual unit cost of wind-generated electricity (they claim 11¢ per Kw compared to 7¢ from coal, but others suggest the actual cost would be about 30¢ per Kw)

 This leaves only one low carbon footprint solution – nuclear. But no new plants have been built in 30 years and the permits for all plants expires in 40 years, meaning many are having to get approved to continue as is.  Further, we have refused to deal with the issue of discarding nuclear waste. And our design of plants unlike the French designs does not reprocess the uranium, which would reduce the waste by 95%. … Finally, a nuclear accident will happen.  Here, there or somewhere. It is a human endeavor and humans make mistakes.  It could be a doozy like Chernobyl… preventing a huge chunk of countryside from being occupied for hundreds of years. 

 Energy – it’s a choice.  choose it or lose it.  The answer has the very future of this nation held hostage. Without increasing amounts of energy, our nation will come to a standstill.

The BP Spill is not a Teachable Moment

A sad little spoof of BP’s management of the spill

http://www.youtube.com/watch?v=2AAa0gd7ClM

(part of below is from a letter I sent a reporter and columnist for the Arkansas Democrat)

…as a person who spent my first 20 years of working as an oil field geologist, I particularly notice articles about the BP spill.  And I spent too much time listening to the talking heads on TV. The tragic result of the hubris of man has a ripple effect that was unforeseen by those who were party to it.  The comparable situation was the Bay of Campeche spill in Mexico from 1979.   But can we learn from it?

Thanks to a policy under George Bush I and Bill Clinton, the late 80s and all of the 1990’s were decades where the domestic oil industry was throttled into submission by literally bribing the Saudi’s with promises of protection from Saddam.  Low energy prices delayed even the most casual effort to find an alternative to foreign sources of oil.  I recall distinctly when gasoline went below $1 per gallon in 1999, and a huge part of that were actually taxes.  When gasoline prices rose to $1.29, I recall one letter to the editor raging at the oil companies for “gouging”.  With that kind of mindset, the BP spill seems almost inevitable. And the human response to the most hated industry in the world hasn’t changed much since Ida Tarbell wrote scathing articles about John D. Rockefeller over 100 years ago.

The drilling moratorium will hurt a lot of people already hurting, namely the coastal Louisiana folks who depend upon oil production and drilling.  I have a cousin in Franklin , LA who is a directional drilling supervisor as was his father before him.  It affects him and his family.  Rig owners will have to make a decision very soon.  Diamond Offshore, on Lary Kudlow’s show, June 10th, said they already have a contract ready to sign to send a rig from the GOM to Nigeria.  This rig has about 110 permanent employees, many currently laid off, and if they move overseas, only 35 or so will retain their jobs. One requirement made by the Nigerian government is that nationals have to be hired for most of the jobs. Those jobs won’t come back.  What drilling contractor will stay and wait out the moratorium when they can leave for foreign soil?  Brazil , Cuba , Venezuela , Trinidad, or even further afield such as Nigeria or Vietnam would be glad to have those rigs.  100,000 people making above average wages can become unemployed or under-employed.

The result of the manpower hiatus between 1985 and 2001 was the lost of entire generation of engineers and geologists. All you have left are the gray-hairs, at least those who toughed it out (I threw in the towel in 1991 after the Gulf War resulted in low prices as the Saudi’s dumped oil on the market to pay for the war and keep Iraq poor); and, you have the relative newcomers – folks who have no collective memory of blowouts many of us lived through like Campeche or the huge blowout in Texas circa 1981 that took months to kill.  The experienced engineers are either in upper management, retired, or returned to room temperature.

This is a failure of process, not a failure of procedure, equipment, or any deliberate act of negligence.  The acoustic switch which some advocate as a preventative may not have done the trick.  In talking with people I know with lots of offshore experience, and reading blogs like www.drillingahead.com the bottom string of casing (called a liner) may have come completely loose due to a bad cement job. In that case, it may have simply been pushed up the hole like a pea out of a straw and is jammed into the bottom of the BOP. In that case, nothing is going to shut the BOPs.

 http://dailyhurricane.com/2010/05/acoustic-switch-would-not-have-saved-bp-well.html

The real problem, of course, is that if you have to shut in a well with the BOP, then someone has, by definition, already made a huge mistake. You control a well with the hydrostatic pressure, and in this case, they thought the hole was cemented “tight”. In fact, it obviously wasn’t and once the riser (the 5000’ of temporary pipe between the drill rig and the ocean floor) displaced the heavy drilling mud with seawater, thus reducing the hydrostatic head the high pressure oil and gas was pushing against, then the fate of the rig was sealed.

Who ordered the riser fluids displaced?  Almost certainly that decision was made by BP in their engineering offices in Houston .  Transocean did not make that call.  Halliburton did not make that call.  There is no sense of urgency sitting in an office in Houston calling the shots.  But the people on the rig who probably were the most concerned about that decision were likely the very people who had the least authority to overturn the decision.  That much I will bet on.

Once the fluid started to move, it flows into the mud pits. There is testimony that the derrickhand (the man who mixes the mud) and the mud engineers (who monitor and assist the derrickhand in making the mud) called the floor to tell them “we have mud everywhere”.  We don’t have their personal testimony because all three men died.  That mud flow was a clear sign that the bubble from below was coming up the pipe. At that point, they would have tried to shut in the well. At that point, they have already lost control of the well.  But if the engineer is right about the entire liner coming loose and shooting up the borehole, it would be too late, as the pipe would already be jammed into the BOP.  The BOP, acoustic switch or not, would not have been able to close on the pipe (there was also drill pipe in the hole which would have simply acted as a guide for the liner surrounding it.)

As for BP. This likely would not have happened to anyone else, except perhaps Exxon-Mobil.  The very large majors are the most arrogant and BP has a reputation among the industry as self-important, we-are-the-best-and-you-are-peons air of superiority, and, also, among the slowest paying, foot-dragging tightwads in the patch.

Pride goeth before a great fall.  BP is badly soiled, and should be. I would hate to be a BP engineer and walk into the Petroleum Club in Houston or New Orleans .  If not outright catcalls, I would say they wouldn’t be invited to anyone’s table gladly.

The solution offered by one native on CNN this morning was to find the person who messed up and arrest them for 11 murders.  My solution would be similar. I am confident at the end of the day, BP will try to shield their engineers from the blame, but ultimately you will see a lot of BP hands fired over this.   But if the process does not change – i.e.- engineers are making decisions from a desk in Houston instead of on the rig, then we are set up for a repeat.  The solution is to shackle that desk jockey to the driller’s console and see if he decides to displace the drilling mud with sea water before being sure the cement job was good.  I will bet he would not have done it if they had been on the rig and had the sense of diligence that only comes with being in harms way.

Nationwide the call for action is in every blog, and every editorial page editor is urging “energy independence”.  Energy independence is a chimera.  Look at ethanol production, for instance.  You drive a John Deere tractor made in France with German parts, planting Canadian seeds, and harvest it with a British built combine, haul the grain in a Volvo truck to a facility made by French engineers.  You produce the ethanol to be sold in stations under the CITGO (Venezuelan owned) or TOTAL (French) banner, and call it American?

Battery power?  Name all the Lithium mines in the U. S…… exactly.  Lead? We’ve pretty much banned its mining here.  We get most of our strategic and rare earth metals from Russia , Canada , and South Africa- our ‘friends’, for a price.  Where do we mine the silica for solar panels? As the environment takes first place here, we have no qualms about buying these items from countries willing to mine them.  The net impact upon the global environment is a sum zero game, but our U. S. environmentalists can smugly gloat over the “improvement” in the environment.

The bottom line is that there is no alternative to oil and gas.  Every time someone gets a sense of urgency to reduce our dependence by greater efficiency or to find a diffuse mix of solutions that will reduce the oil and gas demand, prices fall and makes everything else more or less uneconomic.  LED lighting is far more efficient that the old CRT tube in your TV. The problem is we all watch a 50” television instead of a 17” one.  More efficient but still using the same amount of energy.  We’ve painted ourselves into a corner.

Finally, the argument goes that this is a teachable moment. A time when we can learn from the complacency that came from not having a serious drilling accident in over 30 years in the Gulf.  This event, described by the CEO of Diamond Offshore was a ‘black swan’ – a rare event which turns everything upside down. Indeed it does.  But the author of the Black Swan, and perhaps and even better book called, “Fooled by Randomness”, Nassum Nicholas Taleb warns against trying to predict the unpredictable.

This spill COULD have been prevented, in that there was a way to have prevented this from happening, but seeing that way is much easier in hindsight…see  http://en.wikipedia.org/wiki/Hindsight_bias”>http://en.wikipedia.org/wiki/Hindsight_bias But truth is that the possibility of such a catastrophic failure was not anticpated by BP, nor, likely could it have been as it would have been seen as an impossibly large problem.

Taleb also suggests that since we cannot know what the future problem will be, then the efforts to correct the current problem is not likely to be a solution to the future problem.  In other words, all the coming regulations and preventative measures may well be for naught, as some human being finds a new way to screw something up like it has never been screwed up before…this “Ludic Fallacy”… http://en.wikipedia.org/wiki/Ludic_fallacy”>http://en.wikipedia.org/wiki/Ludic_fallacy,  the idea that simple solutions will actually be a proxy for a future unknown event suggests that when President Obama said that we need to assure that “this will never happen again”, then that is an impossible goal.  There is and always will be a risk to drilling wells, whether on land or in deep water.

Postscript 6-15-10

It is becoming clearer by the day that BP took shortcuts. They did not run a bond log and Schlumberger employees flew off the rig barely 12 hours before the disaster begin. BP also used fewer centralizers, which may have contributed to a poor cement job, which seems the root cause of the problem.  Initially, I scoffed at the notion BP would be held criminally neglegent. I am now of the mind that some engineers in Houston should be prosecuted for manslaughter of the 11 victims. That is harsh but at some point you have stepped over an engineering decision and into the realm of letting the bean counters in London direct the well.  As grim as it sounds, I now firmly believe BP is criminally liable.

Postscript 7/14/2010

The evidence mounts of BP’s failure. The American Petroleum Institute (API) recommends you circulate out mud 1½ times the volume of the hole. They did only a fraction of that.  There was no lock ring holding the casing back from the BOP… There is little integrity left to the inner liners. Only a outer casing can be secure and there is no promise those are in much better shape than the production string.

Addicted to Oil (Not)

Perhaps the most trite, stupid, and inaccurate phrase of the last 30 years has been that this nation is somehow addicted to oil…..every president since Carter has parroted that completely hokie line of bunkum.

Gimme a break. Ignoring for the moment that addiction is where a substance controls you and not you controlling the substance; this nation is blessed with energy and without oil and gas we would be living a Stone Age existence.

This is a short list of other things I am “addicted” to.

Hot showers
flush toilets
air conditioning
elevators
driving to work instead of walking
calling on my cell phone
using the internet

My great-Uncle Pat (Luna) Roper was “addicted” to horses. He never learned to drive a car. He still liked to travel so he rode a mare, sometimes came in a buggy, or in his last years, traveled by bus…horrors. The old man was corrupted by oil.

Name one modern convenience that could be created without a hydrocarbon energy source.

Someone complained that the “true cost” of oil exploration should include the money to clean up the Gulf when a BP sized blowout occurs.

OK….did you know that Cuba is drilling in the Gulf? That the last such blowout lasted 9 months and was near Campeche, Mexico? The state oil company, Pemex was responsible for that. Oil spread along the Texas coast. Is Texas a wasteland as a result (we are not speaking culturally, mind you?) Did all the tourists leave Florida? Did Mexico pay the clean up costs like we demanded? Nope. Can you name the last major spill in the Gulf? Try never.

That was over 30 years ago. The damage is minimal. I predict the damage will be modest again. I am not trying to downplay it, but the truth is that we depend upon all sources of energy and the wave of the future is not to use LESS energy, but MORE. What happened to the CRT tube that was the basis for televisions in America? It got replaced. Light emitting Diodes (LED) and other highly efficient sources of light are now used to build a television. Does that mean the modern TV uses less electricity? No. The TV of yesteryear was maybe 19″, 21″ diagonal. The new generation of HDTV is 32″, or even 50″ or more. Much larger, and use much more energy.

Modern cars have engines that are much more efficient than the Model T. But it also has to carry much more weight, more sophisticated electronics, and have a comparatively large heat and cooling system. And people drive them further. The average Model T didn’t last over 20,000 – 40,000 miles between overhauls.

Every modern convenience in the world is dependent upon energy generated by oil, gas, nuclear, or coal. Man creates and engineers systems. Those systems are never fool proof. They never will be. Our President claims he will regulate blowouts. I suppose he will outlaw volcanoes, too. Perhaps he should ban scaffolding accidents, plane crashes, and bridges falling down. Good luck, BooBoo. Wind and solar are hardly a blip on the energy screen. So every time you hear someone claim that we are addicted to oil, your BS meter ought to peg out off scale.

Valuing Rural Buildings

We offer a class in Valuing Rural Buildings. Either Greg Goodpasture or I will be your instructor.  This class is for the student interested in learning more about the nuances of valuing outbuildings associated with rural residential problems.  You can obtain more information and scheduling from www.oakcrestappraisalacademy.com

 “Appraising Rural Outbuildings”

 If you have been faced with the challenge of determining the value of an outbuilding, such as those commonly encountered on rural property, then this class is for you.  You will be presented with

 1.       How to identify building types and original uses of old buildings

2.       How to understand construction techniques and quality issues

3.       How to extract building values from improved sales

4.       How to develop estimates of contribution and depreciation

5.       How to deal with issues of external or functional obsolescence

Just Let BP Kill the Well. Shut Up, Obama

The mess in the Gulf is a very sad chapter in the history of the oil industry.  Obama is using the opportunity to press his agenda as if jawboning is a way to hurry the drilling of relief wells. Clearly, it is only going to be through the relief well or if through some chance the BOP can be accessed with a flow line and fresh weighted mud can be injected.  Red Adair once injected a barge load of golf balls down a hole to slow the flow long enough to “mud up”.

 The real story is that these industry accidents are rare. There are very few blowouts.  In the 1920’s and 1930’s, many wells were ‘gushers’ and that is simply a blow out.  In the 1950s and 1960s as new depth frontiers were reached, the additional pressures resulted in very big blowouts.   By the 1970s such incidents were rare.  A large major spill due to drilling in the Gulf has not happened since Mexico’s Campeche disaster in the 1979.

 See the story of this well at  http://en.wikipedia.org/wiki/Ixtoc_I .

The situation is a near copy of BPs disaster, only BPs problem is a somewhat deeper well in deeper water.  The Pemex well was capped in March of 1980.  The U. S. demanded compensation for the clean up after oil reached the shores of Texas. Mexico refused to pay.  The oil dissipated rather quickly through bacterial action.

 Perhaps part of the problem is that people die and with them dies the respect that the elders had after suffering through a bad accident.  Newly minted engineers simply have not had those bad accidents…yet. 

 Further, it is like the earthquake scientist once put it about earthquakes.  “The good news is that large earthquakes don’t happen often.  The bad news is that large earthquakes don’t happen often.  No one is prepared for it.”

 There is plenty of time for criticism.  Now is not that time.  Obama needs to shut his silly mouth.  Let BP drill the relief wells, kill the well, and clean up the mess. Instead they have to waste much of their resources answering pointless and inane questions from fools who think they are experts, people like Obama, the Press, and every tort lawyer on the planet.

 http://www.redadair.com/

UPDATE 5 – 26 -10

They will try the top kill procedure that I mentioned above but the Great One, our El Presidente, who has the wisdom and foresight to make some totally dumb statements.  I was particularly annoyed at his characterization that the industry was not doing anything about the “kicks” during drilling.  In fact, many wells “kick” at one time or another. A well has to be drilled with a mud weight that is sufficient to avoid the blowout at the same time, the mud weight must not be so great as to break down the formation and the fluids enter the formations, a. k. a. – Lose Circulation.

Lost Circulation is a double whammy. If too much circulation is lost the hydrostatic head (pressure) is lost, allowing gas to enter the borehole uncontrollably at the same time you are trying to keep the hole full.  The correct mud weight to use is a balancing act. It is never easy. The BOP is the backup when other methods fail.

The second most common occurance of a blowout is during cementing operations, like what happened to BP.  Squeezing liquid cement into the annulus of the casing is not a perfect process. You are bonding steel to rock formations under extremes of pressure and temperature.  That bond is dependent upon proper mix combined with a complete seal of the hole away from the interior of the pipe.  Completion consists of perforating the pipe with steel “bullets” shot from a “perforation gun”. This punches holes in the casing and allows the gas or oil to enter the well for producing.

They didn’t get that far. Clearly, the rig “took a kick” after the cement job, suggesting that the seal between the formation and the last string of pipe was incomplete.  The solution would be to go back and “squeeze” cement into the annulus until that seal is finished. To verify where the squeeze was needed a “Bond Log” would have been run. They never got that far. Apparently the gas bubble coming up was unloading the hole and when they tried to shut in the well and do the sort of “top kill” procedure they are now trying to jury rig today, the gas bubble was expanding rapidly as the hydrostatic pressure fell, and the blowout overwhelmed the rig largely due to its inability to get the BOP to function.

And what does Obama know? Nothing. He is just another Monday morning quarterback trying to look presidential and to most of us who have had experience in the oil patch, he looks like a pathetic fool.

Value of a Mineral Right

Mineral rights are real property rights.  They can be severed from the surface estate.  Whether severed or as part of the fee simple, mineral rights are often ignored by the owners of such rights. 

Since undeveloped minerals are rarely taxed, many people simply ignored them. In some cases, the owners of such rights do not even realize that they hold an interest and many probates have closed without those rights properly transferring to the rightful owners (heirs.)  The states are full of unclaimed mineral rights that are now producing and genealogical detectives comb through old court records in search of orphaned interests that should be or could in in the hands of the heirs.

It is important to know what your mineral rights are worth even when they do not produce.  And the best way is to have the interest appraised by a professional who is both knowledgeable about mineral interests and about professional appraisal practices.

For decades, few appraisers were versed in mineral theory or methods of appraising oil or gas rights; a few were more knowledgeable about quarry and industrial rock perhaps; and, mineral rights were often appraised by geologists or engineers who did discount cash flows but without the appraisal background to arrive at a well supported value.