The exploding supply of NGLs can this stuff be called oil

John Kingston at "The Barrel" has a post on the growing production of natural gas liquids - The exploding supply of NGLs: can this stuff be called oil?.

If The Oil Drum were still around, the contributors would certainly be talking about a new ESAI study.

The Boston-based consultancy put out a press release today, touting a new report it has produced that says by 2023, NGL production will account for more than one-quarter of the world’s liquids output.

To which the peak oil believers might say: exactly.

One argument often made by the peak oil school is that the rise in liquids output around the world does not eliminate any suggestion that oil production has peaked, because so much of what is coming out of the ground isn’t really oil. Instead, much of it is NGLs, which are far less versatile in what can be produced from them. Specifically, they have virtually no value in making distillates, the oil product most in demand in rising economies.

an increasing supply of natural gas from areas as diverse as the Middle East and Australia is pumping out a lot of NGLs along with that rise, and that’s adding to the percentage of NGLs in the total world liquids pool. You can see it in the price: NWE propane now runs about 60% of the price of Brent, and in 2008, it averaged close to 70%.

The question for the global market is whether innovation can take some way of making what could be a growing surplus of ultra-light petroleum products like NGLs or condensate and figure out a way to help them satisfy other petroleum demand. The rising supplies of these types of ultra-light petroleum feedstocks is great news for the petrochemical industry, particularly in the US, but it does take something off the ebullience of those proclaiming the end of peak oil. All barrels most certainly are not alike.

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Rethink Your Stuff What To Splurge On What To Toss

Interesting to see Lifehacker picking up Bruces last Viridian note from a few years ago (getting it in tur from GreenBiz - Rethink Your Stuff: What To Splurge On, What To Toss.

GreenBiz has highlighted salient points from a long, philosophical essay called the Last Viridian Note written by Bruce Sterling. One of the key points Sterling makes is that having too much of the wrong kind of stuff can be a burden, but “economising” or just being a cheapskate misses the point too. Basically:

What you need are things that you GENUINELY like. Things that you cherish, that enhance your existence in the world. The rest is dross.

When re-evaluating your possessions (or purchasing a new item, I might add), ask yourself three questions:

* Is it beautiful—something you’re proud of displaying?
* Is it emotionally important to you—help you establish who you are or who you want to be?
* Is it useful—and something you definitely currently or will use?

If not, get rid of it (e.g., donate, recyle), or pass on buying it. Instead, Sterling advises everyone “get radically improved everyday things.” Invest in a good bed, for example, since you spend a third of your life in one. Good shoes, an ergonomic chair, a multi-function tool—these are things your money should go towards.

Paring down and focusing on the critical, yet normal stuff can greatly improve the quality of your daily life.

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