The value of the US
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peak oil is a myth... if we would just tap our own domestic oil reserves, we wouldn't have to worry... maybe with all our oil shale we'll buy up the arab countries when they run out of oil...
In the Americas, proven oil reserves have increased from 170 billion barrels to 180 billion barrels over the last two decades, according to the 2008 Statistical World Review from British Petroleum. In Europe and Eurasia, proven oil reserves almost doubled, from 76 billion barrels to 144. Africa's proven oil reserves did double, from 58 billion barrels to 117. Even the Asia Pacific region, where China and India are reputed to be sucking up everything in sight, has increased its proven reserves. And the Middle East, the gas tank of the world, shows no sign of slowing down -- its reserves soared by almost 200 billion barrels, from a whopping 567 billion barrels to a super-whopping 756.
...But this is still not the end of it. Unconventional oil reserves are now in play. In 2005, the Rand Corporation estimated that the oil shale in America's Green River Formation, which covers portions of Colorado, Utah and Wyoming, contains 1.5 to 1.8 trillion barrels of oil, with as much as 1.1 trillion barrels of oil recoverable, an amount comparable to the reserves of four Saudi Arabias. Oil shale becomes recoverable at $95 a barrel, it determined. With oil now trading at $140 a barrel, oil shale exploitation is now very much economic. Then there's Canada's tar sands, with its even greater potential--estimates of the total reserves that may be available top two trillion barrels, or eight Saudi Arabias.
This is still not the end to it. Most of the oil we know about lies in the well travelled portions of the globe. But most of the world remains unexplored -- the interiors of Africa, Asia and South America have seen relatively little oil exploration. Oil exploration in the oceans, too, is in its infancy. For all practical purposes, mankind has limitless oil supplies available to it. The story is similar for natural gas and coal, the other major nonrenewable sources of energy. And for nuclear power. And for the renewables.
source: Abundant energy will power future growth - FP Comment
In the Americas, proven oil reserves have increased from 170 billion barrels to 180 billion barrels over the last two decades, according to the 2008 Statistical World Review from British Petroleum. In Europe and Eurasia, proven oil reserves almost doubled, from 76 billion barrels to 144. Africa's proven oil reserves did double, from 58 billion barrels to 117. Even the Asia Pacific region, where China and India are reputed to be sucking up everything in sight, has increased its proven reserves. And the Middle East, the gas tank of the world, shows no sign of slowing down -- its reserves soared by almost 200 billion barrels, from a whopping 567 billion barrels to a super-whopping 756.
...But this is still not the end of it. Unconventional oil reserves are now in play. In 2005, the Rand Corporation estimated that the oil shale in America's Green River Formation, which covers portions of Colorado, Utah and Wyoming, contains 1.5 to 1.8 trillion barrels of oil, with as much as 1.1 trillion barrels of oil recoverable, an amount comparable to the reserves of four Saudi Arabias. Oil shale becomes recoverable at $95 a barrel, it determined. With oil now trading at $140 a barrel, oil shale exploitation is now very much economic. Then there's Canada's tar sands, with its even greater potential--estimates of the total reserves that may be available top two trillion barrels, or eight Saudi Arabias.
This is still not the end to it. Most of the oil we know about lies in the well travelled portions of the globe. But most of the world remains unexplored -- the interiors of Africa, Asia and South America have seen relatively little oil exploration. Oil exploration in the oceans, too, is in its infancy. For all practical purposes, mankind has limitless oil supplies available to it. The story is similar for natural gas and coal, the other major nonrenewable sources of energy. And for nuclear power. And for the renewables.
source: Abundant energy will power future growth - FP Comment
How is peak oil a myth? Oil a a finite resource and we're consuming it at an exponential rate. It will peak.
we likely have reserves enough to last for centuries, if you count oil shale and tar sands...
it's only that production isn't high enough right now, combined with market speculation that's driving the price up now... that's only temporary tho, and is not related to any peak... when the unconventional reserves come on line the market will be stabilized for a long long time... more than our lifetimes...
combine this with the fact that alternative and renewable energy sources are already creeping in... and by the time oil even gets close peaking or depleting, we will no longer be forced to depend on it... thus, we will never really see a true peak oil, or a crash/doomsday from it...
life will go on...
You don't believe in it?
I can suggest you some documentaries that helped me form this opinion:
An Inconvenient Truth (2006), obviously
A Crude Awakening: The Oil Crash (2006)
Terre vue du ciel, La (2004), french production, but has some amazing photography
Somehow I knew Al Gore's lies would find it's way in here. To call that a documentary is a very loose categorization. A documentary is supposed to be supported by facts, not curve-fitted data and chance phenomenon. Yes, you are correct, I do not believe it. Propaganda is disguised in many forms. I for one have seen scientific rebuttals of his theories (Google them yourself) which are just ploys of power and influence masked in a pretty package by those who wish to control.
Now, personally, I don't enjoy the Los Angeles smog any more than the next guy but proving beyond the shadow of doubt that mankind is the sole reason for global warming is not something anyone has been able to do successfully.
Our country goes through these pseudo-crisis' every 30-60 years, be it via war, threat of war, etc.
WWI lead to population boom, which stressed the economy and lead to the stock market crash.
WWII lead to population boom, which stressed the economy and lead to economic warfare with communists, which almost lead to MAD scenarios.
Vietnam lead to political shakeup, which changed the economy and allowed S&L's to issue junk bonds, and many more bullshit situations, etc...
Iraq war lead to the shit we're facing currently. Period.
Get rid of Iraq, stick more money into education and small businesses, and you'll see things improve.
WWI lead to population boom, which stressed the economy and lead to the stock market crash.
WWII lead to population boom, which stressed the economy and lead to economic warfare with communists, which almost lead to MAD scenarios.
Vietnam lead to political shakeup, which changed the economy and allowed S&L's to issue junk bonds, and many more bullshit situations, etc...
Iraq war lead to the shit we're facing currently. Period.
Get rid of Iraq, stick more money into education and small businesses, and you'll see things improve.
I'm not basing my opinion solely on Al Gore's film. I agree that it is unlikely that we are the only reason for global warming. But I think it's even more unlikely that we are not playing a huge role in this.
But even if everything said about global warming is untrue, then I still think we're well on our way to destroying our planet. We're just consuming too much and that is not sustainable. Maybe for our generation, but not for the next ones and for most species. Perhaps I should cross off Al Gore's movie and just suggest the other two
You can see the photos from my last suggestion here:
YannArthusBertrand2.org - Etats-Unis
Do read the text under each photo.
We're just consuming too much and that is not sustainable. Maybe for our generation, but not for the next ones and for most species. Perhaps I should cross off Al Gore's movie and just suggest the other two
Yes, maybe you should - you're right about the resources though, we are far to wasteful of a society. We have the technology to accomplish so much with so much less (resources), really.
i don't think that's true.
The oil price | Don’t blame the speculators | Economist.com
The economist isn't always right but this makes sense. Eventually the oil bought by speculators is thrown back into the market, nobodys hoarding millions of barrels of oil in a warehouse, speculation doesn't explain the continued price increase.
Yes and no.
The country comes out stronger on the world stage.
But a LOT of people are hurt/killed/damaged (both military and average joes) to get there.
Kind of a hard pitch, this optimism, when the same groups are disenfranchised each time we cycle through the process.
As much as it's hurting everybody right now, I don't think these high oil prices are necessarily a bad thing in the long run. Renewable energy gets talked about a lot, but nobody actually gets off their ass and does anything about it until it hits them in the pocketbook. It seems like interest and innovation has sped up, and I'm happy with that trade-off.
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