PeakOil is You
How much oil is there really left in the ground?
Re: How much oil is there really left in the ground?
by Pops » Sun 26 Oct 2014, 10:18:55
$this->bbcode_second_pass_quote('Keith_McClary', 'E')ven if there are 2 trillion barrels left, the peak will only be a decade or two later.
Ding! Ding! Ding!
Although nothing is "simplistic" so probably it will look more like this
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Re: How much oil is there really left in the ground?
by DesuMaiden » Wed 29 Oct 2014, 17:24:40
The answer can be found on this page...
http://en.wikipedia.org/wiki/List_of_co ... l_reserves
The world really does only have a little over a trillion barrels of proven reserves left. This means we have about 30 to 40 years worth of oil left at our current rate of consumption. Given that the rate of consumption will likely increase in the following years, I doubt 1 trillion something barrels of oil will really last more than 30 years.
Currently we consume 90 million barrels of oil everyday. Let's say there is 1 trillion barrels of oil in the ground.
Doing the math, it results in 30.4 years of oil left in the ground at current rates of consumption.
1,000,000,000,000 barrels (divided by) 90,000,000 barrels /day = 11,111.11 days (divided by 365 days/ year) = 30.441 years
http://en.wikipedia.org/wiki/List_of_co ... l_reserves
The world really does only have a little over a trillion barrels of proven reserves left. This means we have about 30 to 40 years worth of oil left at our current rate of consumption. Given that the rate of consumption will likely increase in the following years, I doubt 1 trillion something barrels of oil will really last more than 30 years.
Currently we consume 90 million barrels of oil everyday. Let's say there is 1 trillion barrels of oil in the ground.
Doing the math, it results in 30.4 years of oil left in the ground at current rates of consumption.
1,000,000,000,000 barrels (divided by) 90,000,000 barrels /day = 11,111.11 days (divided by 365 days/ year) = 30.441 years
History repeats itself. Just everytime with different characters and players.
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