Oil Supplies - oh yes there's plenty!
Discussion
Speaking to someone recently who does surveying for oil.
And the news is there is absolutely s**t loads of oil still to be extracted - and not tricky stuff to extract either.
Literally enough to keep us going at current levels for at least the next 25 years.
Just thought you should all know!
And the news is there is absolutely s**t loads of oil still to be extracted - and not tricky stuff to extract either.
Literally enough to keep us going at current levels for at least the next 25 years.
Just thought you should all know!
25yrs doesn't sound very long to meIt's not the amount of oil that's the issue, it's the effect of burning it.
I'm no ecological expert, but common sense tells me that releasing into the atmosphere millions of tonnes of CO2 that been locked away over billions of years, within a couple of hundred years, will probably end in tears.
I'm no ecological expert, but common sense tells me that releasing into the atmosphere millions of tonnes of CO2 that been locked away over billions of years, within a couple of hundred years, will probably end in tears.
He said 'at least' as he's working on a 5 year project - and new discoveries are being made almost weekly.
In his words there is absolutely s**t loads of the stuff.
And this is easy extraction too.
The harder to extract stuff exists too (forecast s**t loads) but you pick the low hanging fruit first as the saying goes.
It only becomes a false economy to extract when the cost to extract and refine the litre exceeds what the market is willing to pay for that litre.
In his words there is absolutely s**t loads of the stuff.
And this is easy extraction too.
The harder to extract stuff exists too (forecast s**t loads) but you pick the low hanging fruit first as the saying goes.
It only becomes a false economy to extract when the cost to extract and refine the litre exceeds what the market is willing to pay for that litre.
Oil and Gas extraction and refinement is my business. There's plenty left and production rate can keep up with demand.
As for CO2, it's significance is overstated. Other gasses I.e. CH4 are much more damaging, and it's production from hydrocarbons is much lower than from 'natural' sources
As for CO2, it's significance is overstated. Other gasses I.e. CH4 are much more damaging, and it's production from hydrocarbons is much lower than from 'natural' sources
U T said:
It's not the amount of oil that's the issue, it's the effect of burning it.
I'm no ecological expert, but common sense tells me that releasing into the atmosphere millions of tonnes of CO2 that been locked away over billions of years, within a couple of hundred years, will probably end in tears.
However the fossils that the fossil fuels were formed from came about from CO2 so technically it will still be carbon Neutral I'm no ecological expert, but common sense tells me that releasing into the atmosphere millions of tonnes of CO2 that been locked away over billions of years, within a couple of hundred years, will probably end in tears.
DRCAGE said:
"At the current rate"
Look into exponential growth to see why the qouted bit matters!
Oil consumption is not growing 'that' rapidly- it certainly can't be described as mathematically exponential. In fact, world consumption fell for two years after 2007 (off the top of my head).Look into exponential growth to see why the qouted bit matters!
Classic Grad 98 said:
Oil and Gas extraction and refinement is my business. There's plenty left and production rate can keep up with demand.
As for CO2, it's significance is overstated. Other gasses I.e. CH4 are much more damaging, and it's production from hydrocarbons is much lower than from 'natural' sources
+1 As for CO2, it's significance is overstated. Other gasses I.e. CH4 are much more damaging, and it's production from hydrocarbons is much lower than from 'natural' sources
I've worked in the oil & gas exploration business too and
concur with your point of view. There is plenty left and
the effects of CO2 are negligible compared to CH4.
Without taxes, UK petrol would be about 45p a litre.
Economics Level 1, but does that price sound anything like a
commodity running out anytime soon, or indeed in the next
20 years or so ?
I've made the point here before that before taxes,
petrol is cheaper than milk.
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