[Zardoz]

Scroll down to the bottom of this page, to the Oil & Gas Journal article, and read the comments:

http://www.energybulletin.net/16215.html

Russia 77% depleted? Saudi Arabia 61% gone???

[something_awfull]

$this->bbcode_second_pass_quote('', 'W')orld:
Total Recoverable Reserves: 2,000 Gb; 1,043 Gb Remaining; 48% depleted.

[Jack]

My, my. It looks as if the optimists were wrong, doesn't it? Imagine that.

Not to worry, biofuels grown in Africa will surely save us all. Link for those who doubt it!


Extreme Sarcasm

[bobbyboy]

I've come across this guy (Sandrea) before. Have a look at this:



World Oil Reserves


Although Sandrea puts remaining reserves for Kuwait at 8 Gb at the end of 2000 which seems highly implausible (implies about 4 Gb left at present) unless Burgan's production is collapsing at present (20%+ decline rate). The 2000 Gb URR figure is from Deffeyes; Sandrea's figure is 1400 Gb.

[erl]

It took me a while to figure out where those numbers were coming from in the article.

They are from the footnote on the last page.

[mekrob]

I find this more on the side of BS, but then again, I have no expertise in the subject. But only ~150 billion barrels from the three largest producers?! Come on. And that's including condesates as well! And yet their total world reserves don't change. I don't see how they can get good data though on Russia or Saudi Arabia, as well. And how can Russia increase production when they are 70+% depleted? It makes no sense to me and I'm astonished that no one would pick up on these points.

Nonetheless, very interesting.

[SD_Scott]

HA HA, Westexas and the other oil drum folk will love this.

[Zardoz]

$this->bbcode_second_pass_quote('mekrob', 'I') find this more on the side of BS...Nonetheless, very interesting.

[mekrob]

I don't read Oil and Gas that much, or ever for that matter, but they aren't the definitive source for oil, just (one of) the most definitive that we have. We don't know exactly how much the Earth has not even in the US where reserves are open to the public, let alone in Saudi Arabia or other secretive regimes. They are simply estimating to the best of their ability which is why I do put some stock in their articles, but less in this one as it pertains more to the unknowns.

But still consider, even if there are 260 billion barrels of oil left (including reserve growth and new discoveries), then even SA is still 26% depleted and will reach 50% depletion in 22 years (but much less if they increase production). And that is in the nation that has seen so little increased production and explored area. Not good by any standards.