40 more years of oil at current consumption rates.

uscitizen

uscitizen

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World oil supplies are set to run out faster than expected, warn scientists
Scientists challenge major review of global reserves and warn that supplies will start to run out in four years' time
By Daniel Howden
Published: 14 June 2007

Scientists have criticised a major review of the world's remaining oil reserves, warning that the end of oil is coming sooner than governments and oil companies are prepared to admit.

BP's Statistical Review of World Energy, published yesterday, appears to show that the world still has enough "proven" reserves to provide 40 years of consumption at current rates. The assessment, based on officially reported figures, has once again pushed back the estimate of when the world will run dry.

However, scientists led by the London-based Oil Depletion Analysis Centre, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives.

http://news.independent.co.uk/sci_tech/article2656034.ece
 
remember when reading that article that is is based on current consumption rates which are rising.....so it will be shorter.

Yes the dates will change as more oil is found demand rises, etc....
 
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"In 1999, Britain's oil reserves in the North Sea peaked, but for two years after this became apparent, Mr Leggett claims, it was heresy for anyone in official circles to say so. "Not meeting demand is not an option. In fact, it is an act of treason," he says."


You really should read the entire article.
It is your and your childrens futures. I will be gone before it gets too bad.
Guess I will start making stills....legal ones.
 
A survey of the four countries with the biggest reported reserves - Saudi Arabia, Iran, Iraq and Kuwait - reveals major concerns. In Kuwait last year, a journalist found documents suggesting the country's real reserves were half of what was reported. Iran this year became the first major oil producer to introduce oil rationing - an indication of the administration's view on which way oil reserves are going.


Yeah, this is disturbing.

The Saudis are very secretive about their oil production capacity. I've known engineers who worked with the Saudis, who tell me that the saudis are lying about their proven reserves and production capacity. It's not nearly as large as they tell the world.

We pretty much need to go on a crash course for alternative energy development.
 
We pretty much need to go on a crash course for alternative energy development.
//

Yep think about it, run OUT in 40 yrs at current consumption and consumption is still rising. Long before it runs out it will get expensive as hell. We will be wishing for $5 gas...

Yes so what if thei group is off and it is 50 instead of 40, makes no real difference.
 
"I will be gone before it gets too bad."

Yes, yes you will. Sooner than you think in fact. You may as well blow all the profits from your real estate deal this year... cause you won't need it next year. Well, beyond January that is.
 
"We pretty much need to go on a crash course for alternative energy development."

True....

we need to do that regardless of the oil levels.
 
Superfreak said:
"We pretty much need to go on a crash course for alternative energy development."

True....

we need to do that regardless of the oil levels.
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Does the public sector have an important role to play; i.e. tax incentives, R&D funding, CAFE mileage standards, subsidies, etc?

Or shall we assume Cons are correct that the free market will sort it out, all by itself? ;)
 
Cypress said:
A survey of the four countries with the biggest reported reserves - Saudi Arabia, Iran, Iraq and Kuwait - reveals major concerns. In Kuwait last year, a journalist found documents suggesting the country's real reserves were half of what was reported. Iran this year became the first major oil producer to introduce oil rationing - an indication of the administration's view on which way oil reserves are going.


Yeah, this is disturbing.

The Saudis are very secretive about their oil production capacity. I've known engineers who worked with the Saudis, who tell me that the saudis are lying about their proven reserves and production capacity. It's not nearly as large as they tell the world.

We pretty much need to go on a crash course for alternative energy development.
Click to expand...


Yes, we certainly do. Hybrids are only a stopgap measure, and one of my greatest concerns with them is that too many people may see them as an end product rather than an interim technology. We have to get off our dependence on oil as our primary energy source. I'd like to see parallel efforts to convert some of our engines to different fuel sources, but I think that ultimately we'll have to change a lot of the ways that we do things in our daily lives. We should be developing several different power technologies/fuel sources; some will be more efficient in specific applications than others.

Why is it that nothing happens until we're in crisis mode? We've known for many years that this was going to happen.

Even in Texas -- we have some serious efforts going on to harness wind power, and several newly-installed stop signs with red flashing lights are actually equipped with solar panels. Frankly I expected that this would be the last place for this to happen, but it's certainly welcome! :)
 
If by public you mean the government, yes they can help. But NO they do not HAVE to be involved. There is more R&D going on than you are apparently aware of.... do you have any idea how many alt energy companies are out there trying to be the first to come up with an economically viable alternative to oil and nat gas?
 
"Why is it that nothing happens until we're in crisis mode? We've known for many years that this was going to happen."

The alt energy companies have been out there for decades trying to come up with viable alternatives. It is just that the media didn't really cover energy all that much in the 90's when oil was artificially low around $13 barrel.

Shell holds eco car races every year. Studying designs by tomorrows engineers to try to come up with the next energy source or at least the most economically viable uses of oil etc...

Solar power companies have been around for a long time. They finally have a product that works well for energy use by buildings, they just need to get the costs down so that more people can afford it. That will happen within the next five years.

Wind power is coming along, but I don't see AS much potential there as there is for solar.

Fuel Cell technology is still trying to find ways to get the cells small enough to fit into vehicles. That is probably ten years off.

While the public may indeed be content with the hybrids... the business world knows where the future is... and that is why private equity money is flowing in those directions.
 
Cypress said:
A survey of the four countries with the biggest reported reserves - Saudi Arabia, Iran, Iraq and Kuwait - reveals major concerns. In Kuwait last year, a journalist found documents suggesting the country's real reserves were half of what was reported. Iran this year became the first major oil producer to introduce oil rationing - an indication of the administration's view on which way oil reserves are going.


Yeah, this is disturbing.

The Saudis are very secretive about their oil production capacity. I've known engineers who worked with the Saudis, who tell me that the saudis are lying about their proven reserves and production capacity. It's not nearly as large as they tell the world.

We pretty much need to go on a crash course for alternative energy development.
Click to expand...
It is a national security issue as well.

I know most of you have to remember I've been saying since 9/11 that we should have created a Manhattan Project for an alternative source before the buildings had been cleaned up. Or that the President should have created a "Beat them to space" type of national urgency toward this. It isn't just that it might run out (this is definitely not a "consensus" thing here), but that we need to be not so dependant on other nations, so dependant that we continue to enrich them as their citizens attack us in hatred.
 
GOD said:
"I will be gone before it gets too bad."

Yes, yes you will. Sooner than you think in fact. You may as well blow all the profits from your real estate deal this year... cause you won't need it next year. Well, beyond January that is.
Click to expand...

Hey I don't believe you since you gave me those bad powerball numbers ;)
 
Superfreak said:
If by public you mean the government, yes they can help. But NO they do not HAVE to be involved. There is more R&D going on than you are apparently aware of.... do you have any idea how many alt energy companies are out there trying to be the first to come up with an economically viable alternative to oil and nat gas?
Click to expand...


Well, we're quibbling over semantics then. Because we agree that government has to play a role.

I think by "involvment", you assume that government does the research. Government doesn't do research. It shouldn't. Government's role is too support basic scientific research, and to support technologies that serve the common interest - through tax and spending policy.

The reason I used "public sector" is because I'm including universities. Most of whom are either public, or recieve public monies. Universities are where a lot of the basic research on alternatives is done.
 
"Why should I give to M. D. Anderson?
In naming M. D. Anderson as one of the nation's first three Comprehensive Cancer Centers, the National Cancer Institute recognized the institution's vital role as a resource in conducting research, training physicians and scientists, and developing new programs that set the standards of cancer research and care. Because the faculty and staff focus solely on cancer, their cumulative expertise in treating and studying the disease is unparalleled. Only 9.3% of M. D. Anderson's budget comes from state appropriations. For every $1 of state support, M. D. Anderson must earn approximately $9 from patient care fees, grants and contracts, and charitable gifts. Your gift to M. D. Anderson reaches out through our many programs and services to touch lives worldwide. "

Just one example Cypress... but this is just to show you that it can be done without much involvment from government funding (and if push came to shove, you could eliminate that 10% the government provides... people will replace those funds)
 
Superfreak said:
"Why should I give to M. D. Anderson?
In naming M. D. Anderson as one of the nation's first three Comprehensive Cancer Centers, the National Cancer Institute recognized the institution's vital role as a resource in conducting research, training physicians and scientists, and developing new programs that set the standards of cancer research and care. Because the faculty and staff focus solely on cancer, their cumulative expertise in treating and studying the disease is unparalleled. Only 9.3% of M. D. Anderson's budget comes from state appropriations. For every $1 of state support, M. D. Anderson must earn approximately $9 from patient care fees, grants and contracts, and charitable gifts. Your gift to M. D. Anderson reaches out through our many programs and services to touch lives worldwide. "

Just one example Cypress... but this is just to show you that it can be done without much involvment from government funding (and if push came to shove, you could eliminate that 10% the government provides... people will replace those funds)
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"Just one example Cypress... but this is just to show you that it can be done without much involvment from government funding"

From their own website:

Mission
The mission of The University of Texas M. D. Anderson Cancer Center is to eliminate cancer in Texas, the nation, and the world through outstanding programs that integrate patient care, research and prevention, and through education for undergraduate and graduate students, trainees, professionals, employees and the public.
Click to expand...

Ummmm....SF? the University of Texas is a publicly funded educational and research institution

http://www.mdanderson.org/About_MDA...7845-11D4-AEC300508BDCCE3A&method=displayFull


According to Wiki, M.D. Anderson was created by an Act by congress, and the Texas state legislature. It is also the number one recipient of grants from the National Cancer Institute.
 
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What does topspin invest in? Oil and Solar Power and Hybrids.

That said Chevron and Exxon will have oil long afer 40yrs.
 
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