Who says we will run out of OIL?

[tipsrfine]

We live on a ball with FINITE oil supplies. Since you've said what I am doing is not a very smart thing to do, I will return in like manner; you've either not watched the video, or you are stupid.

[syndicated]

So am I to assume the guy thinks ALL the oil that EVER will be discovered (next year, next decade, next century) is already known? Really now...

The size of the oil deposit in N Dakota was not known until the 1990's...
Tar sand oil in Canada is not economical to produce with an oil price below around $70-75/BBL... something that did not happen until the 1980's.
Fracking just came about in the last decade... before that marginal wells were not economical to operate (I know, I inherited some marginal wells when Dad passed).

What is to say something new (a deposit we have yet to discover, or a technique for recovery not yet developed) will not happen in the future.

To say anything is finite... is to confine one's mind into a teensy little box... IMO not a very smart thing to do...

$56/bbl is our break even point.
And don't call it the tar sands, it's the oil sands.
Only hippies and retards call it tar sands.

[ga-hvac-tech]

We live on a ball with FINITE oil supplies. Since you've said what I am doing is not a very smart thing to do, I will return in like manner; you've either not watched the video, or you are stupid.

My friend.... you are not allowing your mind to live outside a rather constrained box... Who says all the oil that ever will be discovered is already in the form of oil? It still may be in various stages of developing into oil...
Too many things we do not yet know... kinda tuff to predict the future when technology moves as fast as it does.

OTOH: We may discover an energy source that makes oil obsolete... which would be QUITE interesting!

[Vinster]

It's a temporary fix. It's not going to drive down the price of oil, the price of oil is set by the commodities exchange and the speculators making the money off it.
"If there were no speculation in oil futures on commodities exchange, the price of a barrel of oil might be as low as $74.61– not more than the present price of $108.00 a barrel." Forbes Mag arcticle

Also, even though they discovered 3-4 billion barrels it on translates to about half that when converted to gas. A barrel of crude oil is only 42 gallons and the average barrel yeilds 20 gallons of gasoline.

Plus, with China and India stepping up in the world and becoming more modernized countries. They 3 billion people between them. Oh my god! just think of all the bad drivers coming on the roads.

[tipsrfine]

My friend.... you are not allowing your mind to live outside a rather constrained box... Who says all the oil that ever will be discovered is already in the form of oil? It still may be in various stages of developing into oil...
Too many things we do not yet know... kinda tuff to predict the future when technology moves as fast as it does.

OTOH: We may discover an energy source that makes oil obsolete... which would be QUITE interesting!

Kinda hard to talk with someone about a topic if they switch topics mid-stream. If we are talking about oil, it will run out. If we are talking about the planet being able to feed the world's population, eventually it will not be able to. You really need to watch the video. Or watch that old re-run of Star Trek where Captian Kirk was brought to a planet with over-population so he could infect them by mating with the princess. LOL.

[AStudent]

As I said earlier, I believe that oil is renewable. Oil is the remnants of everything that has ever died on Earth. The question is are we consuming it faster than it is produced?

The answer may be found if you take the oil reserve numbers from a decade ago, compare them to the numbers of that same reserve today, and subtract a percentage from that due to advances in oil discovery technology. That should give you an idea of how fast oil is produced.

Someone else has to do the math.....it wasn't my best course.

[tipsrfine]

As I said earlier, I believe that oil is renewable. Oil is the remnants of everything that has ever died on Earth. The question is are we consuming it faster than it is produced?

The answer may be found if you take the oil reserve numbers from a decade ago, compare them to the numbers of that same reserve today, and subtract a percentage from that due to advances in oil discovery technology. That should give you an idea of how fast oil is produced.

Someone else has to do the math.....it wasn't my best course.

That has to be the most absurd statement I've heard or read in some time.

[printer2]

Cheap oil is disappearing. The Bakkens oil has been known for over 50 years but until directional drilling it was not thought recoverable. It and oil from Alberta is worth producing now because of the price of oil. Both are big water hogs, with fracking we basically pump fresh water down and leave it there. There is lot of oil in the Arctic but it is one of the most inhospitable places on earth and man is no match for nature when it comes to setting up shop up there. We will do it and there will be ecological damage. We like our oil too much.

As far as feeding our energy fix there really is no other game in town. It is going to be scary when we actually do run down to the point where there are major shortages. Not in our life time but those born today probably will see it. I am more concerned for those around in a 100 years from now than for us. I don't want society to get to a certain point and then have to take three steps back.

[AStudent]

That has to be the most absurd statement I've heard or read in some time.

Really? Care to tell me why?

[glennac]

As I said earlier, I believe that oil is renewable. Oil is the remnants of everything that has ever died on Earth. The question is are we consuming it faster than it is produced?

The answer may be found if you take the oil reserve numbers from a decade ago, compare them to the numbers of that same reserve today, and subtract a percentage from that due to advances in oil discovery technology. That should give you an idea of how fast oil is produced.

Someone else has to do the math.....it wasn't my best course.

Well "A"Student since you aren't good at math what studies do you excel in besides "liberal" economics, social studies and big government. LOL. Couldn't resist there student. Thank you, thank you very much

[AStudent]

Well "A"Student since you aren't good at math what studies do you excel in besides "liberal" economics, social studies and big government. LOL. Couldn't resist there student. Thank you, thank you very much

I hear ya Glenn...I hear ya...

[ga-hvac-tech]

That has to be the most absurd statement I've heard or read in some time.

Why?

Hmmm... I can see if a person has their mind made up the amount of oil that EVER will be... has ALL been discovered and accounted for... Then perhaps it is a finite and dwindling source.
What I said in a previous post is: AT age 60, I have seen 3 times when the govt and so called science said we were running out of oil... every time it turned out to NOT be the case.

Now are we smart enough to learn... or do we hang on to what we 'want' to believe?

IMO we can define our little box and live there... while the world passes us by... or we can expand our thinking and go with what is yet to be...
Each of us has a choice on this one.

[motoguy128]

He has a point in there. Oil is not an elemental compound. Coal and oil are being constantly produced by the decompositing of organic matter... the rate of which is debateable.... as are all environmental sciences....more like art forms sometimes.



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