Re: When will oil run out ?

Post #46,041 by dmarker2 7/18/02 11:21:47 PM 7/18/02 11:26:23 PM Reply	Re: When will oil run out ? - some articles Quote from the end of the 1st linked article... But while oil remains an available and relatively inexpensive resource, it will no doubt remain the backbone of economic power and an political influence in the world. ******************************** [link\|http://news.bbc.co.uk/hi/english/world/newsid_677000/677610.stm\|What are the world's oil resources? ] Extract ... The world has about 1,000 billion barrels of proven crude oil reserves with the largest amounts to be found under Saudi Arabia, Iraq, United Arab Emirates, Kuwait and Iran in the Gulf. Venezuela has the next largest reserves, while in North America there are major deposits in all of Mexico, the US and Canada. Major oil producers Saudi Arabia (8 million) United States (6.5 million) Russia (5.9 million) Iran (3.5 million) China (3.5 million) (barrels/day) Russia and China also have large proven reserves but, along with the US, they are pumping at rates which will cease to be sustainable far sooner than their Middle East counterparts. In Central Asia, Kazakhstan has large oil reserves which have not been fully exploited to date. Africa has significant deposits in Libya, Nigeria and Algeria, while large North Sea deposits are exploited mainly by Norway. Are we running out of oil? Oil is a finite resource which could eventually run out. World consumption today is about 70 million barrels a day and oil producers expect this to rise to 100 million barrels by 2020. The Organisation of Petroleum Exporting Countries (Opec) says its reserves are sufficient to last another 80 years at the current rate of production. What is more likely is that there will always be oil around, it will just become harder to extract, of poorer quality and more expensive. That is why many energy companies are currently investing large sums to find alternative sources of energy to reduce the world's reliance on oil. etc: etc: ************************* OTHER ARTICLES ************************* "As the oil price fluctuates in the international market, China can hardly secure a stable oil supply by imports alone. Meanwhile, domestic reserves are far below the increasing oil demand. A practical way to get out of the dilemma and guarantee oil supply is to explore various channels of international cooperation, Zhou pointed out. The strategies include: jointly run refineries or liquefied natural gas plants in major oil-producing countries, taking an active part in overseas oil and natural gas exploration and setting up our own oil-producing bases abroad. " [link\|http://www.china.org.cn/e-15/15-3-o/15-3-o-14.htm\|Restructure Oil Resources] ******************** [link\|http://www.eia.doe.gov/emeu/cabs/caspgrph.html\|Caspian Sea Reserves (the 'stans)] Regarding the proposed Khazakstan - China pipeline ... "Agreement 1997; feasibility study halted in September 1999 because Kazakhstan could not commit sufficient oil flows for the next 10 years". ******************** Tibet as a main oil reserve - "We are confident that Tibet will become an oil reserve base in the 21st century," [link\|http://www.tibet.ca/wtnarchive/1999/7/22_2.html\|Scientists comment on possible tibet oil reserves] ******************** North Korea believed to have 12 million barrels in oil reserves ... [link\|http://www.korea-np.co.jp/pk/072nd_issue/98120202.htm\|Nth Korea Diagram of oil reserves] ******************** Edited by dmarker2 July 18, 2002, 11:26:23 PM EDT Re: When will oil run out ? - some articles What are the world's oil resources? Extract ... The world has about 1,000 billion barrels of proven crude oil reserves with the largest amounts to be found under Saudi Arabia, Iraq, United Arab Emirates, Kuwait and Iran in the Gulf. Venezuela has the next largest reserves, while in North America there are major deposits in all of Mexico, the US and Canada. Major oil producers Saudi Arabia (8 million) United States (6.5 million) Russia (5.9 million) Iran (3.5 million) China (3.5 million) (barrels/day) Russia and China also have large proven reserves but, along with the US, they are pumping at rates which will cease to be sustainable far sooner than their Middle East counterparts. In Central Asia, Kazakhstan has large oil reserves which have not been fully exploited to date. Africa has significant deposits in Libya, Nigeria and Algeria, while large North Sea deposits are exploited mainly by Norway. Are we running out of oil? Oil is a finite resource which could eventually run out. World consumption today is about 70 million barrels a day and oil producers expect this to rise to 100 million barrels by 2020. The Organisation of Petroleum Exporting Countries (Opec) says its reserves are sufficient to last another 80 years at the current rate of production. What is more likely is that there will always be oil around, it will just become harder to extract, of poorer quality and more expensive. That is why many energy companies are currently investing large sums to find alternative sources of energy to reduce the world's reliance on oil. etc: etc: ************************* OTHER ARTICLES ************************* "As the oil price fluctuates in the international market, China can hardly secure a stable oil supply by imports alone. Meanwhile, domestic reserves are far below the increasing oil demand. A practical way to get out of the dilemma and guarantee oil supply is to explore various channels of international cooperation, Zhou pointed out. The strategies include: jointly run refineries or liquefied natural gas plants in major oil-producing countries, taking an active part in overseas oil and natural gas exploration and setting up our own oil-producing bases abroad. " Restructure Oil Resources ******************** Caspian Sea Reserves (the 'stans) Regarding the proposed Khazakstan - China pipeline ... "Agreement 1997; feasibility study halted in September 1999 because Kazakhstan could not commit sufficient oil flows for the next 10 years". ******************** Tibet as a main oil reserve - "We are confident that Tibet will become an oil reserve base in the 21st century," Scientists comment on possible tibet oil reserves ******************** North Korea believed to have 12 million barrels in oil reserves ... Nth Korea Diagram of oil reserves ********************** Collapse All History
Post #46,062 by boxley 7/19/02 9:15:54 AM Reply	According to environmentalists circa 1970 oil ran out 2001 During the building of the AK pipeline the environmental movement declared it a tragedy because all oil would run out there by 1999. All oil in known world reserves would be depleted by 2001. I guess this was before they discovered global warning. thanks, Bill ."Once, in the wilds of Afghanistan, I had to subsist on food and water for several weeks." W.C. Fields
Post #46,202 by Ashton 7/20/02 4:47:40 AM Reply	Nice coverage of a main item on the list. One can extrapolate the consumption + increasing difficulty of extraction (cost) to match it - to guesstimate how seriously shall alternatives become funded or.. {horrors} imagine a decision to accept that wasting of energy is a Bad Thing (?) That would put a large crimp in the habits of societies based upon: waste being encouraged to sustain not merely profit but - growth in profits. If this is the largest element of the survival equation, there seem to be just a few others ~ Energy: read [oil][$] for the terminally uncreative. (covered) Religion: which [Mine's Bigger!] shall exterminate all the lesser, or at least cow adequately - #2 on down. Of course too, whatever the rhetoric, it's All entirely about the mundane: the power. Population: the biggie. Eventually tapering? or perpetual exponential growth? Divison of planetary wealth: intertwined with the obvious intent of Each group's God - desiring hegemony for Its Chosen Folk. As intransigent as the greed worm. Planetary corruption, physical & mental: obviously an amalgamation of all the above + our insouciance (seen as disinterest in the whole topic) until - long past the point where we might have reversed a particular Bad Thing (which we have finally agreed Is Bad). Hmmm - not a terribly long list (unless I left out something important). A sane species could deal with each one and the sum - er 'sanely'. Which doesn't help us a lot, does it? Ashton

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