They've been predicting oil would run out in 20-30 years for about a century now. At current rates of usage and with known reserves, we probably have about 30-40 years worth of oil. But things change. Efforts to curb global warming may accelerate the push to alternative energy, cutting oil usage. And an ironic effect of global warming may be that it makes new oil fields accessible in places like Greenland.
Stay tuned.In which year do you think that oil reserves will come to an end?
Interesting question. This issue has been discussed for decades, Around 1970, a movie called The Tragedy of the Commons predicted that the supply of gasoline as well as many of our mineral resources would be signficantly depleted by the 1990's. That didn't happen because technology allowed us to find new deposits and to stop using the existing resources for new; i.e. titanium. We won't ever run out; the more poignant question is how much are you willing to spend for gasoline. Is 5$ a gallon too high. European citizens are paying over 6.50 a gallon in certain areas.In which year do you think that oil reserves will come to an end?
When I was young, they said 2000. Now 2200 is the number I hear
They will never end since the amount oil reserves are determined by price. When the price of oil goes up the amount of reserves goes up because more difficult to get reserves become more profitable to extract. For example, there is more oil in the tar sands of Alberta, Canada than has ever been found in the Middle East. It is just not as easy to get.
2050
We'll never get the last drop; it'll just keep getting more and more expensive until the price drives down the damand. Eventually, other energy sources will replace oil, but they will not equal today's oil output until we get nuclear fusion power plants.
Many experts believe we are already at the peak of oil production; it's all downhill from here.
As far as Crude Oil deposits, probably 50-100 years with any luck. There are also vast amounts in shale deposits in North America, though it's not yet economically feasable to extract. Once the price of gas gets high enough, you can bet they'll start getting to it.
you,ll be long dead, dont worry.
About 40 years ago seems the offical estimate for coal reserve in va. %26amp; ky. was known to be 200 yrs. Present estimates have dropped drastically. The bible speaks of a people being'; ever learning and never able to come to the knowledge of the truth';, seems we have arrived. Don't put a lot of confidence in scientist they will have another estimate tomorrow.
When I was young they were supposed to be gone by now.
Wednesday, April 28, 2010
Is it time the government opens the oil reserves to ease gas prices?
Hahaha! DRAGON hits P%26amp;S with a serious question on Bizarro P%26amp;S Day.
DRAGON 2008
';I BELIEVE IN U.S.';Is it time the government opens the oil reserves to ease gas prices?
100% yes!Is it time the government opens the oil reserves to ease gas prices?
Even with oil reserves open, the big oil companies will keep the price way up to make more of their unreasonable profits. The reserves should stay closed to guarantee availability in the future.
Yes and drill off the Fla coast
DRAGON 2008
';I BELIEVE IN U.S.';Is it time the government opens the oil reserves to ease gas prices?
100% yes!Is it time the government opens the oil reserves to ease gas prices?
Even with oil reserves open, the big oil companies will keep the price way up to make more of their unreasonable profits. The reserves should stay closed to guarantee availability in the future.
Yes and drill off the Fla coast
Would releasing the US oil reserves help to bring the gas price down ?
To answer your question;
No, because the current prices are more due the fact that there is no refinery capacity to make more gasoline available. If we build more refineries that would lower the price of gasoline, because more of it will be available. The problem is not a shortage of oil.Would releasing the US oil reserves help to bring the gas price down ?
If you are talking about drilling for more oil, yes they prices will come down. If you are talking about the strategic oil reserves, No there is simply not enough.Would releasing the US oil reserves help to bring the gas price down ?
Yes, but it would have a very small effect. It would be like adding a few drops to a huge barrel.
Maybe a dime or two, for a month or two, but that's about it.
With Exxon making 75k a min. in 2007 I would say that using our surplus is not the problem. We go after small gas stations for price gouging but never the root cause. I say the oil that America uses should be people owned and no profit made, we will just pay the private corporations to get it out of the ground for us.
for a few weeks, yes.
Easy way the goverment isn't endorsing is to stop taxing it...right now in Florida we are paying about 44 cents per gallon in taxes.
In a word nope.
Sure, for about a day.
Absolutely and it would also show these nasty little countries that we don't want or need them and would effectively shut them up.
No. Less oil reserves would drive futures up. Do you know why the oil investors price oil so high? The same reason why a dog licks his nads - they can.
Marginally, at best.
In theory, it could create more of a supply, but it might also set of some sort of speculative panic (';Why is the US releasing the oil reserves? Are things that bad?';), and this would force prices higher.
That plus the addition of new refineries, and new drilling yes.
Yes, but developing electric cars would bring them down more quickly.
Also, if everyone boycotted Mobil then after some time Mobil would have to lower its prices to fight the boycott, which would result in its competitors lowering their prices to compete with Mobil.
Doubtful. A lot of the current prices revolve around increased global consumption combined with decreased value of the dollar.
Yes, providing that the left wing nut jobs let us build new refineries as well
Yes... but only a little bit and only for a little while.
The problem is the growing demand for gasoline and fuel in India and China.
We were so nice to help give them an economic boom... but too dumb to think of the long term consequences.
not so much
not in the short term. the refineries need to be built, that takes many years. but once they are operating, sure that will help lowering prices. developing alternative fuels will be the key since alternative fuels are replenishing itself.
No, because the current prices are more due the fact that there is no refinery capacity to make more gasoline available. If we build more refineries that would lower the price of gasoline, because more of it will be available. The problem is not a shortage of oil.Would releasing the US oil reserves help to bring the gas price down ?
If you are talking about drilling for more oil, yes they prices will come down. If you are talking about the strategic oil reserves, No there is simply not enough.Would releasing the US oil reserves help to bring the gas price down ?
Yes, but it would have a very small effect. It would be like adding a few drops to a huge barrel.
Maybe a dime or two, for a month or two, but that's about it.
With Exxon making 75k a min. in 2007 I would say that using our surplus is not the problem. We go after small gas stations for price gouging but never the root cause. I say the oil that America uses should be people owned and no profit made, we will just pay the private corporations to get it out of the ground for us.
for a few weeks, yes.
Easy way the goverment isn't endorsing is to stop taxing it...right now in Florida we are paying about 44 cents per gallon in taxes.
In a word nope.
Sure, for about a day.
Absolutely and it would also show these nasty little countries that we don't want or need them and would effectively shut them up.
No. Less oil reserves would drive futures up. Do you know why the oil investors price oil so high? The same reason why a dog licks his nads - they can.
Marginally, at best.
In theory, it could create more of a supply, but it might also set of some sort of speculative panic (';Why is the US releasing the oil reserves? Are things that bad?';), and this would force prices higher.
That plus the addition of new refineries, and new drilling yes.
Yes, but developing electric cars would bring them down more quickly.
Also, if everyone boycotted Mobil then after some time Mobil would have to lower its prices to fight the boycott, which would result in its competitors lowering their prices to compete with Mobil.
Doubtful. A lot of the current prices revolve around increased global consumption combined with decreased value of the dollar.
Yes, providing that the left wing nut jobs let us build new refineries as well
Yes... but only a little bit and only for a little while.
The problem is the growing demand for gasoline and fuel in India and China.
We were so nice to help give them an economic boom... but too dumb to think of the long term consequences.
not so much
not in the short term. the refineries need to be built, that takes many years. but once they are operating, sure that will help lowering prices. developing alternative fuels will be the key since alternative fuels are replenishing itself.
For how many years from now do you think that the oil reserves on earth will be depleted ?
I think 50 to 75 years. Our biggest problem right now is a lack of refining capacity.For how many years from now do you think that the oil reserves on earth will be depleted ?
It won't so much be depleted, as it will be too expensive to use. It may already be here.
There will be a tipping point, at which the expense of fossil fuels becomes more expensive than alternatives.
I think the energy companies would like us to stay with the fuel-provider model, by switching us to nuclear energy or alternative fuels. But these alternatives will still provide more expensive energy.
I think we would all be better off if our buildings were as energy self-sufficient as possible by adding solar collectors to roofs and wind turbines of various sizes to out neighborhoods and backyards.
Amoco/PB has fitted many of their stations with solar, and Wal-Mart is working on this as well.
I expect a boom in solar like the 80's, only more sophisticated, with grid tie-ins and other efficiencies, soon.For how many years from now do you think that the oil reserves on earth will be depleted ?
23,467
there is plenty of oil around the world they have created a shortage to raise the price up
thats a scary thought..umm i dont know by the pace we're useing it now i would say atleast 70yr from now...lucky most of us here today wouldnt be there to witness the problems that might be caused by that but i also believe men r really smart and they'll come up with somethin to replace oil..or find more oil reserves somewhere hidden today....
At current rates of consumption and economic growth, there is enough for about 200 to 300 years. But there are major concerns here - one is that the rate at which oil can be refined has peaked because we are getting close to the point of depleting all of the oil that is easily accessible - meaning that while there is still plenty of oil out there, it will get harder to find and more expensive to refine and bring to market. Another concern is climate change - if we continue to burn oil at our present rate, we are certain to cause catostrophic harm to the planet in about 100 years.
We need to boost our refinement and collection technology for oil shale. Crude Oil can not only be drilled and pumped from a well, it can be seperated from solid rock called oil shale. The only problem is that it involves strip mining and the it currently takes a lot of energy and money to seperate the crude oil from oil shale. When we do get this technology, oil will not run out for a long time, best of all there is a lot here in the US. There is something like 300 billion barrels of crude oil that has been found has been consumed in the past and may be drilled and consumed in the future. We have used about 100 billion so far in history making 200 billion left. In the case of oil shale, there are over 1.3 trillion barrels of oil to be recovored in the state of Colorado alone, then we won't need OPEC.
Humans have been mining gold for say 5,000 years as a rough estimate, in that time we have never run out of gold. Gold is still valuable and used around the world in all niches of society. The processes we have used have changed, the value of gold has changed but so far we haven't run out. We utilize fossil fuels in a variety of applications from fuel to plastics, some of those things can be done with other sources. When it is economical to change those process they will be changed. Instead of focusing all our energy on when something is going to run out (the problem), we need to focus on other ways of doing what we need to do (the solution).
It will never be completely depleted. But it will become so scarce compared to the demand that it will get ridiculously expensive. I would think that would happen within a few decades, or a century at most.
Last I heard 50 years. But that does not include Alaska or any other untapped areas.
If you watn REAL answers that are unbiased, check out the book, ';Resource Wars';. It has a section devoted to oil, siting LEGITIMATE sources (governments from around the world, scientific community, researchers, oil companies, etc...). At our current pace of production, 15-30 years. The remaining oil will be too costly to extract. Increasing capacity at the refining arena only draws down the supply quicker. We should be using the oil for plastics, not burning it up through the tailpipe or smokestack.... So many other options that even British Petroleum (BP) has a rollout plan for Hydrogen fueling stations.....
If we continue at our current pace, we could be looking at a great need for alternate energy sources in a few decades. Demand is rising, oil production can't keep up with consumption.
I'd say 20-25 years. I might be over optimistic on that number too.
at max iu would say that there is about 100years of oil left on the planet at the minumim i would say 50 but the reasherch in to alternative means of enargy is one of the top proritys but in the end everything runs out just like the sun is going to die in 50000years or so
It won't so much be depleted, as it will be too expensive to use. It may already be here.
There will be a tipping point, at which the expense of fossil fuels becomes more expensive than alternatives.
I think the energy companies would like us to stay with the fuel-provider model, by switching us to nuclear energy or alternative fuels. But these alternatives will still provide more expensive energy.
I think we would all be better off if our buildings were as energy self-sufficient as possible by adding solar collectors to roofs and wind turbines of various sizes to out neighborhoods and backyards.
Amoco/PB has fitted many of their stations with solar, and Wal-Mart is working on this as well.
I expect a boom in solar like the 80's, only more sophisticated, with grid tie-ins and other efficiencies, soon.For how many years from now do you think that the oil reserves on earth will be depleted ?
23,467
there is plenty of oil around the world they have created a shortage to raise the price up
thats a scary thought..umm i dont know by the pace we're useing it now i would say atleast 70yr from now...lucky most of us here today wouldnt be there to witness the problems that might be caused by that but i also believe men r really smart and they'll come up with somethin to replace oil..or find more oil reserves somewhere hidden today....
At current rates of consumption and economic growth, there is enough for about 200 to 300 years. But there are major concerns here - one is that the rate at which oil can be refined has peaked because we are getting close to the point of depleting all of the oil that is easily accessible - meaning that while there is still plenty of oil out there, it will get harder to find and more expensive to refine and bring to market. Another concern is climate change - if we continue to burn oil at our present rate, we are certain to cause catostrophic harm to the planet in about 100 years.
We need to boost our refinement and collection technology for oil shale. Crude Oil can not only be drilled and pumped from a well, it can be seperated from solid rock called oil shale. The only problem is that it involves strip mining and the it currently takes a lot of energy and money to seperate the crude oil from oil shale. When we do get this technology, oil will not run out for a long time, best of all there is a lot here in the US. There is something like 300 billion barrels of crude oil that has been found has been consumed in the past and may be drilled and consumed in the future. We have used about 100 billion so far in history making 200 billion left. In the case of oil shale, there are over 1.3 trillion barrels of oil to be recovored in the state of Colorado alone, then we won't need OPEC.
Humans have been mining gold for say 5,000 years as a rough estimate, in that time we have never run out of gold. Gold is still valuable and used around the world in all niches of society. The processes we have used have changed, the value of gold has changed but so far we haven't run out. We utilize fossil fuels in a variety of applications from fuel to plastics, some of those things can be done with other sources. When it is economical to change those process they will be changed. Instead of focusing all our energy on when something is going to run out (the problem), we need to focus on other ways of doing what we need to do (the solution).
It will never be completely depleted. But it will become so scarce compared to the demand that it will get ridiculously expensive. I would think that would happen within a few decades, or a century at most.
Last I heard 50 years. But that does not include Alaska or any other untapped areas.
If you watn REAL answers that are unbiased, check out the book, ';Resource Wars';. It has a section devoted to oil, siting LEGITIMATE sources (governments from around the world, scientific community, researchers, oil companies, etc...). At our current pace of production, 15-30 years. The remaining oil will be too costly to extract. Increasing capacity at the refining arena only draws down the supply quicker. We should be using the oil for plastics, not burning it up through the tailpipe or smokestack.... So many other options that even British Petroleum (BP) has a rollout plan for Hydrogen fueling stations.....
If we continue at our current pace, we could be looking at a great need for alternate energy sources in a few decades. Demand is rising, oil production can't keep up with consumption.
I'd say 20-25 years. I might be over optimistic on that number too.
at max iu would say that there is about 100years of oil left on the planet at the minumim i would say 50 but the reasherch in to alternative means of enargy is one of the top proritys but in the end everything runs out just like the sun is going to die in 50000years or so
Norway has massive oil reserves, how come we aren't invading them?
Is that because the War for Oil meme is past it's expiration date?Norway has massive oil reserves, how come we aren't invading them?
Because we didn't go to Iraq for the oil. Thats just a myth. We went their under incorrect information, and lets face it, we were still a bit scared. We were still just kinda swinging after 2001. But it was not for oil. If we really needed it, we could tap the Gulf of Mexico, Alaska, or stop exporting so much of what we produce, like around 50%.Norway has massive oil reserves, how come we aren't invading them?
Maybe they're not brown enough.
They are a member of NATO (Iraq is not)*. NATO would kick our @ss.
Wait for it....wait for it!
Global outrage? Bush already spent his political capital on getting into Iraq. The U.N. resolutions and the bad intelligence on WMD's gave him a more credible reason to invade Iraq than attacking another 1st world country like Norway unprovoked. I'm not saying we invaded for oil but for U.S. interests. To say that oil was not a factor is very naive, IMHO.
Some of the largest oil reserves in the world today are currently in United States held lands, such as Anwar, the Dakotas, Montana, and Colorado, to name a few. Why aren't we going to those areas? (Let's not forget the Gulf of Mexico, where Cuba, China, Mexico and Venezuela are drilling today.)
If you are going to ask questions about why we go to one place for oil, but not another, then at least ask the right question.
Hate to say it, but the reason is that they are not brown, yellow, or black.....
WTF kind of an idiotic question is that???
Because Iraq was never about oil. It has always been about faulty intelligence.
If we went to war for oil.. then where is it? Why are our troops paying over $3.00 a gallon in Iraq when Iraqis pay half that?
The bush administration are stupid, but not that stupid lol
If we invade Norway, we are definitely looking at WWIII with every country in the world turning against us. We are almost there now with this Bush Administration, but this would surely seal the deal.
Coz you can't find any ally to invade Norway and without allies YOU SUCK!!! Norway would kick your a*s*s in a few days!!! Norway 1 - 0 USA
Well - after 9/11 when Saudis hit the WTC, Bush invaded Iran. So if we have another 9/11, you just may see it. Bush has twisted logic.revlon
Because we didn't go to Iraq for the oil. Thats just a myth. We went their under incorrect information, and lets face it, we were still a bit scared. We were still just kinda swinging after 2001. But it was not for oil. If we really needed it, we could tap the Gulf of Mexico, Alaska, or stop exporting so much of what we produce, like around 50%.Norway has massive oil reserves, how come we aren't invading them?
Maybe they're not brown enough.
They are a member of NATO (Iraq is not)*. NATO would kick our @ss.
Wait for it....wait for it!
Global outrage? Bush already spent his political capital on getting into Iraq. The U.N. resolutions and the bad intelligence on WMD's gave him a more credible reason to invade Iraq than attacking another 1st world country like Norway unprovoked. I'm not saying we invaded for oil but for U.S. interests. To say that oil was not a factor is very naive, IMHO.
Some of the largest oil reserves in the world today are currently in United States held lands, such as Anwar, the Dakotas, Montana, and Colorado, to name a few. Why aren't we going to those areas? (Let's not forget the Gulf of Mexico, where Cuba, China, Mexico and Venezuela are drilling today.)
If you are going to ask questions about why we go to one place for oil, but not another, then at least ask the right question.
Hate to say it, but the reason is that they are not brown, yellow, or black.....
WTF kind of an idiotic question is that???
Because Iraq was never about oil. It has always been about faulty intelligence.
If we went to war for oil.. then where is it? Why are our troops paying over $3.00 a gallon in Iraq when Iraqis pay half that?
The bush administration are stupid, but not that stupid lol
If we invade Norway, we are definitely looking at WWIII with every country in the world turning against us. We are almost there now with this Bush Administration, but this would surely seal the deal.
Coz you can't find any ally to invade Norway and without allies YOU SUCK!!! Norway would kick your a*s*s in a few days!!! Norway 1 - 0 USA
Well - after 9/11 when Saudis hit the WTC, Bush invaded Iran. So if we have another 9/11, you just may see it. Bush has twisted logic.
How long will U.S. and world oil reserves last?
This is assuming the consumption rate remains a constant.How long will U.S. and world oil reserves last?
It depends on whether we continue to find new reserves or if the rate of discovery peters out.
So probably at least 50 years. Probably several decades longer. Maybe less if countries like India and China increase consumption.How long will U.S. and world oil reserves last?
The world's total known oil reserves will last for a maximum of less than another 50 years at current consumption rates. The U.S. only has enough oil to last for a year or two at current consumption rates, if we were able to pump all of it out of the ground for our use.
Check out the sites below for more info.
It depends on whether we continue to find new reserves or if the rate of discovery peters out.
So probably at least 50 years. Probably several decades longer. Maybe less if countries like India and China increase consumption.How long will U.S. and world oil reserves last?
The world's total known oil reserves will last for a maximum of less than another 50 years at current consumption rates. The U.S. only has enough oil to last for a year or two at current consumption rates, if we were able to pump all of it out of the ground for our use.
Check out the sites below for more info.
What would happen when all the oil reserves run off after 50 years from the world?
I'm pretty sure we'll find something new to take the place of oil, I don't think it'll get to the point that we'll exhaust all the oil in the world.What would happen when all the oil reserves run off after 50 years from the world?
Then they will start using the stuff Tesla invented some time ago to power the things that oil does now. But to many people are getting rich on oil, so why not get richer while some is left.What would happen when all the oil reserves run off after 50 years from the world?
About 6 billion people (50 years from now) will starve to death because there won't be any petrol to manufacture fertilizer or to fuel mechanized agriculture.
The remaining population would live in medieval conditions.
If all the oil completely runs out there will be chaos. People will adapt but for a while it will be bad. It is not just being able to drive your car that will be affected. Many plastics, medical chemicals and many other things that come from oil that no longer will be here for us. Machinery to run the factories will stop because no lubrication for them. Your house will freeze in the winter and so many other things. No electricity either. Just think even the water will be shut off because the oil is not there to lubricate the pumps. The list goes on for a long time. You better hope there is something to replace many of the uses for oil long before we completely run out. There is new oil being created all the time but not fast enough to help much. Keep thinking about it.
We will find another stash to last another 200 years.
You will see a diversity of alternative power being utilized. Hydrogen Fuel cell, Nuclear, Solar, Wind, and even Hybrid power sources.
The other direction to take is to make applicances that consume power, more energy efficient.
The once rich oil nations will have one less card to play.
In less than 50 years hydrogen fuel cells will be powering automobiles and Nuclear power will be supplying most of the electricity.
The world has nearly 1000 years worth of oil at current usage, much of it within the borders of the US.
Horses.
We will all find out what cool technologies are being suppressed because the oil companies are making such insane profits!!!
There is more than 50 years worth of oil left.
We'll all have to start walking places and using other resources....I dunno how we'll ever get by.
Then they will start using the stuff Tesla invented some time ago to power the things that oil does now. But to many people are getting rich on oil, so why not get richer while some is left.What would happen when all the oil reserves run off after 50 years from the world?
About 6 billion people (50 years from now) will starve to death because there won't be any petrol to manufacture fertilizer or to fuel mechanized agriculture.
The remaining population would live in medieval conditions.
If all the oil completely runs out there will be chaos. People will adapt but for a while it will be bad. It is not just being able to drive your car that will be affected. Many plastics, medical chemicals and many other things that come from oil that no longer will be here for us. Machinery to run the factories will stop because no lubrication for them. Your house will freeze in the winter and so many other things. No electricity either. Just think even the water will be shut off because the oil is not there to lubricate the pumps. The list goes on for a long time. You better hope there is something to replace many of the uses for oil long before we completely run out. There is new oil being created all the time but not fast enough to help much. Keep thinking about it.
We will find another stash to last another 200 years.
You will see a diversity of alternative power being utilized. Hydrogen Fuel cell, Nuclear, Solar, Wind, and even Hybrid power sources.
The other direction to take is to make applicances that consume power, more energy efficient.
The once rich oil nations will have one less card to play.
In less than 50 years hydrogen fuel cells will be powering automobiles and Nuclear power will be supplying most of the electricity.
The world has nearly 1000 years worth of oil at current usage, much of it within the borders of the US.
Horses.
We will all find out what cool technologies are being suppressed because the oil companies are making such insane profits!!!
There is more than 50 years worth of oil left.
We'll all have to start walking places and using other resources....I dunno how we'll ever get by.
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