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Voting Question: How long will the oil last?
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Voting Question: How long will the oil last?
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| 10/12 2013 04:08
Sorry i have no link. From what I saw on TV, the USA and RUSSA have far more oil than the middle East. It is not being harvested for pollitical reasons. Anyway they said to expect it to be gone by 2050 or so.
| 10/12 2013 05:09
Oil was already suppose to be peaked, declining and drained by now. Along with a New Ice Age. A rather glum and highly toted "scientists all agree" rumor of the 1970's. New technology, pesky Man finding a way, has pushed the latest "peak oil" rumors into silence. Because there now truly does seem to be enough petroleum, coal and natural gas to supply Mankind into the cleaner technologies. Without the need to panic. Like the 1970's "science" tried to do. Now, if we could get Obama to allow more permits--instead of declining numbers-- to explore and extract on public lands? Let alone permit nationwide single standard gasoline and a dedicated refinery per branch of military? The USA would already be producing more oil and fuels than the Arabs.
| 10/12 2013 06:39
Well, I would take the word of college professors who study such things. My geology professor said we would be out of oil by the year 2000.
| 10/12 2013 12:27
For the last 50 years I've heard we are going to run out of oil any minute now. And it hasn't changed so I expect for the next 50 it will be the same.
| 13/12 2013 14:01
There are at least three factors that govern the price and availability of oil. What is physically in the ground is only one. Peak oil theory says that if it takes 150 years to ramp up to the peak then it should take 150 years to use up all the supplies. We have been using oil in one form or another for over 2000 years. The last 100 years have seen a much more rapid use. Every Alternative energy source we produce will help to make oil last longer. Legislation to stop pollution will tend to make oil last longer. US peak oil was predicted in 1970 and the prediction proved to be accurate. World peak oil was predicted in 2005 but does not seem to be accurate. I suspect that the present situation has been skewed from what was predicted by peak oil theory (http://www.peak-oil-news.info/global/theory/) due to technology that is allowing us to pump more wells faster. Even though the supply has not changed it seems as if we have more because we are able to get the last bit of oil quickly out of what would have formerly been considered dieing or even dry wells. Unfortunately this technology also tends toward a more rapid decline of overall oil supplies. (the curve will fall off sharply) If I were an oil executive pumping more now might make some sense as it is also clear that using all the oil in the ground will lead to a huge increase in atmospheric levels of carbon. Regardless of what you think of this the mood of the world is moving increasingly toward restricting carbon output and therefore ever more likely against burning oil. From the oil exec's narrow perspective it is therefore better to sell more now than to preserve some for the future. A second factor is the type of oil that is available at what price point. At around $10 per barrel only the most easily recovered oil is economical. At $100 a barrel tar sands and oil shale becomes economical to produce although significantly more polluting. requires more energy and more supplies like fresh water. The third factor is the measure of how much energy is required to produce a barrel of oil. This is known as EROI or Energy Return on Investment http://pri.org/stories/2012-11-02/energy-costs-oil-production By some calculations the age of oil should already be over as we have less energy intensive ways to produce the same energy, but things like externalities, subsidies, vested interests and pollution are not always factored into the costs.
| 11/12 2013 21:06
not in your lifetime! we have over 500 years of coal reserves that can be converted to oil in the USA alone.
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