Of course improvements in technology increase EROEI, as the easy oil is drilled out. It also results in 'reserve growth' as oil which was previously uneconomic (or not yet discovered) within a field succumbs to new technology.RGR wrote:
Easy oil stopped being extracted sometime in the early 20th century, I would say when mud systems replaced cable tool drilling systems, the end had already begun.
Considering that this changeover took place before any of us were born, have you noticed a declining standard of living since approximately 1910 which concerns you?
(You don't need me to tell you that , ReservesGrowthRulez). However, even with technology, we pick the low hanging fruit first. We didn't develop horizontal drilling until 30 years ago because it was an expensive technique to develop and we didn't need it until 30 years ago.
Most new oil field developments now start with 'enhanced oil recovery' techniques now, which were only used on the downslope of the recovery slope 20 years ago. We are getting to the point where new oil fields are getting increasingly expensive up front, with huge capital investments now against uncertain economic returns five or 20 years from now. EROEI wasn't an issue as long as the total energy supply grew faster than EROEI declined. Net energy still increased. It is only now, with supply essentially flat, that net energy is probably falling.
BTW, RGR, I am replying to this, not because I expect you to believe a word of what I write, but because it is an opportunity for the lurkers on this site to review my opinion and draw their own conclusions.
Thanks for that