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Record W2165790767 · doi:10.2118/09-02-05-da

What Causes Booms and Busts in Heavy Oil?

2009· article· en· W2165790767 on OpenAlexaffabout
K.A. Miller

Bibliographic record

VenueJournal of Canadian Petroleum Technology · 2009
Typearticle
Languageen
FieldEnergy
TopicGlobal Energy and Sustainability Research
Canadian institutionsHusky Energy (Canada)
Fundersnot available
KeywordsBoomGovernment (linguistics)Oil boomPetroleum industryPerspective (graphical)BusinessMarketingPublic relationsEconomicsPolitical scienceEngineeringComputer science

Abstract

fetched live from OpenAlex

Introduction Development of Western Canadian heavy oil and bitumen production from the end of price controls in mid 1985 to today has been a roller coaster ride for oil companies and their employees. Activities in response to the current oil price drop suggest this trend is continuing. The results to the oil industry have been fragmented, including inefficient efforts to advance technology and a need for repeated reorganization. The results for many employees have been insecurity, career disruption and general frustration. While some may point out that this period of time has seen a great deal of technical development, I feel that much more could have been accomplished under more stable circumstances. It seems prudent that those of us in the heavy oil industry should periodically stop and ask ourselves why this cycling of activity occurs, and explore options for dampening the severity of the booms and busts. My main purpose in writing this article is to encourage candid dialogue. Data Collection When I was contemplating writing an article on this subject, I talked to a number of people working within the Calgary oil patch. Input was obtained from workers in industry, research, education and the government. Nearly everyone expressed strong opinions, but very few gave me the impression they wanted to be quoted or identified. From the perspective of the 'soft science' of human behaviour, this high interest in expressing opinions but low interest in public ownership of them is likely an important piece of data. Statistical data were not hard to locate, but most of these data were proprietary and unavailable for citation in this article. For example, some investment companies have detailed documents discussing current events in heavy oil and making predictions about its future. It is a little unnerving to read these sterile, economic prognoses of our chosen field of endeavour. One begins to wonder if the investment companies collectively have the ability to influence the economic state of the oil patch more than their workers do. There are also a number of commercial analytical studies on the booms and busts experienced in the Canadian heavy oil industry. I will not try to duplicate or improve upon them. My statistics will be limited to noting the scale of the booms and busts by citing that over 26,000 Canadian workers appear to have been laid off between 1985 and 1994(1). The fraction working in heavy oil was not stated, but it was likely a significant number. It would also be very difficult to determine the number of these people who subsequently found employment back in the heavy oil field. Regardless of these unknown factors, it is apparent that significant disruption to the industry occurs during the boom and bust cycles. Another important conclusion from the historic data is that all booms or busts will end within a few years. They should not be viewed as permanent. As one of my experienced and accomplished friends in heavy oil recently told me, "It is unfortunate that decisions are often made on the assumption that the "current" heavy oil price will go on forever."

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.010
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: Observational
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.623
Threshold uncertainty score0.749

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0010.010
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0020.003
Science and technology studies0.0030.003
Scholarly communication0.0030.002
Open science0.0010.002
Research integrity0.0020.002
Insufficient payload (model declined to judge)0.0160.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.008
GPT teacher head0.246
Teacher spread0.237 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2009
Admission routes2
Has abstractyes

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