by TonyPrep » Sun 27 Jan 2008, 06:43:54
$this->bbcode_second_pass_quote('Oil-Finder', 'J')ust so you can be sure of my calculation, 1.8 trillion barrels / 2 = 900 billion barrels / 31 billion barrels yearly consumption = 29 years.
I can't believe you really meant that post. Do you really not see a difference between conventional oil (the stuff that comes out of the ground under pressure (or with some pumping assistance) and oil that is contained in shale (or oil sands, for that matter)? Oil sands production in Canada is estimated to peak at somewhere between 3 and 5 million barrels per day, eventually (if societies and economies largely hold together), but that peak won't happen when half the oil, in the oil sands, is gone, and it could, theoretically continue for many decades, even centuries, at that level. I'm sure oil shale, if significant quantities ever get produced, will be similar. World-wide, unconventional oil, such as this, probably will have a peak and slow decline, because deposits naturally vary in quality and concentration, and the best/easiest are produced first.
But your calculation is just not credible, because it shale is not conventional oil. It can't be produced at anywhere near the rates that equivalent sized conventional oil fields can.
To me, this all seems rather obvious and I would not have thought that the comments I've made about the author of the article and the calculation I worked through would warrant more than an "oh", but we've used many posts to drag through this point that the article's author made a completely useless comment.
(By the way, even if the oil shale was conventional oil, your calculation would not be correct, though it's probably in the right ball park; when calculating the delay in peak, a small number of months or years probably is quite close, but increasing demand also needs to be taken into consideration; e.g.
if oil consumption increased at 2% per year, consumption would be 55 billion barrel per year, in 29 years, and the delay would be significantly shorter).