Peak Oil
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Joined: Jan 2003
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From: Kansas City
Peak Oil
http://worldnetdaily.com/index.php?f...w&pageId=59502
An interesting thought on the world oil supply. I have read articles like this for the past few years. Kinda makes you wonder how much oil is out there.
An interesting thought on the world oil supply. I have read articles like this for the past few years. Kinda makes you wonder how much oil is out there.
Senior Member
Joined: Jun 2004
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From: Houston, TX
Living in Houston I know quite a few folks in the oil industry and have discussed this with them. To a man, everyone agrees that we're in no danger of running out of oil. The only limitation has been the technology and/or cost required to extract it. The higher oil prices we are experiencing now make it feasible to remove oil that would not have made economic sense only a few years ago......
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From: Alberta, Canada
Originally Posted by ddellwo
Living in Houston I know quite a few folks in the oil industry and have discussed this with them. To a man, everyone agrees that we're in no danger of running out of oil. The only limitation has been the technology and/or cost required to extract it. The higher oil prices we are experiencing now make it feasible to remove oil that would not have made economic sense only a few years ago......
Bingo
A perfect example is the oil sands in northern Alberta.
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Joined: Jan 1999
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From: Great Lakes
We will never run out of oil. It's simple economics. At some point will become too expensive for good return on investment, usage will go down, and alternative energy sources will be exploited. There will still be plenty of oil in the ground. It'll just cost to much to recover.
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From: Tulsa, O K L A H O M A!
http://ostseis.anl.gov/guide/oilshale/index.cfm
Once the price of oil starts getting high enough, extraction from oil shale becomes feasible.
Grim
Once the price of oil starts getting high enough, extraction from oil shale becomes feasible.
While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years.
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Joined: Jan 1999
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From: Great Lakes
I know bp in Whiting, IN is investing $3,000,000,000 (three billion) to exploit the tar sands in Alberta, Canada. At current rates they predict at least a 50 year run of safe secure energy. Everyone around Chicago uses products from this refinery. Funny some groups are fighting the expansion. They want the energy, but they want it produced in someone elses back yard!