Lots is technically, but whether or not we can get it out of the ground at an economic price or not remains to be seen.
We will all be living the Good Life in 10 years time...
Chat Forum
[closed]
How much oil is really left?
-
Posted 1 year ago #
-
aP - I work for the number one oil company in the World, Exxonmobil they have been very welcome in Libya especially as they are prepared to spend lots of dosh on Exploration the cost of which they only get back when they discover oil/gas. Believe me all oil comapanies are welcome in Libya especially when Gaddafi can pocket 90% of every $ extracted.
In answer to the OP question, there are lots of reserves in the World, the problem is the means to discover and extract the petrochemials is not yet there to make it viable.
Deepsea drilling is the way ahead.
Posted 1 year ago # -
anokdale - Member
Deepsea drilling is the way ahead.
I am sure that the residents of the Gulf of Mexico would whole-heartedly agree with you on that point
Posted 1 year ago # -
Do you belive we are at the limits of human understanding?
no one thinks this but I dont see how this supports your suggesstion that something cheap and easy to use will be dicovered or invented that will somehow make oil extraction as cheap and affordable as spaming everyone on the Internet. i may as well say we will run cars from water, split the atom easily/cheaply, control fusion and power things from and un yet discovered technology that will be free and plentiful. The future not being predictable is a given and no matter how outlandish the claims we cant disprove them.
You have no proof of this claim [nor can i disprove it] so it is pointless to debate it but I lack your faith.Posted 1 year ago # -
Ho hum - Your right but as America is the largest consumer of oil the said residents dont really matter in the big pcture.
The blocks in Libya offshore well the ones that are producing in the Sirte basin are all deep water and that is the way ahead if we want to keep pumping petrol into our cars.
Posted 1 year ago # -
^^^^
anokdale - I quite agree with you. The US have done reasonably well at reducing their usage of oil but there is still room for improvement.
However, the bigger issue here is the need for energy within an economy. Oil is around its peak, nuclear is now the baddie after what has happened in Japan and there is still plenty of coal in the ground even though it emits loads of CO2.
When the SHTF lets see how many developed economies with "dirty" resources in the ground that could be used to keep the lights on and the wheels of industry turning actually use them with complete disregard to what it does to the Earth's biosphere.
PS. I have my doomer http://www.theoildrum.com hat on tonight
Posted 1 year ago # -
Ho hum -- I am as green as the next, it winds me up when i go to all the oil / gas producing countries, Yemen, Nigeria, Iraq, Saudi, Iran, Libya in the last 6 years and they are all roasting and they dont even bother with solar panels, i live in South Wales and i have them but the hydrocarbons are there for years to come and as long as the oil companies run the energy business and the Government grabs the tax we will run the reserves dry and no doubt pour Military resourses into these areas to protect them.
Posted 1 year ago # -
@Ade - I did an MSc Advanced Environmental and Energy Studies at CAT, finished a few years back now... going back in the summer for the annual reunion though for the first time since I graduated. Rather looking forward to it, just trying to find a family size tent since, apparently, my low slung mountain tents aint going to cut it with a wee un!
Posted 1 year ago #
Topic Closed
This topic has been closed to new replies.
