[Graeme]

Are we running out of oil? The world in energy statistics

$this->bbcode_second_pass_quote('', 'T')he amount of proven oil reserves awaiting to be exploited fell last year for the first time in a decade, according to new figures released today. The amount of crude left in the ground was 1.258trn barrels - 3bn less than this time last year.

At today's rate of use however there is still enough oil to last the next 42 years, according to the oil company although those concerned about Peak Oil say we are closer to running out given demand is expected to rise strongly in the short-term.

We've extracted the best bits for you - including the data below, which includes:
• Where each country gets its energy from
• Gas consumption and prices
• Coal reserves

[Schmuto]

$this->bbcode_second_pass_quote('Graeme', 'A')t today's rate of use however there is still enough oil to last the next 42 years,

[ki11ercane]

Should have considered this an issue in 1950 when it was "91 years left." As a society we won't even be thinking about it until we're in single digit "months."

42 years. Good that still gives me 10 good years in prepping. KEEP THE PARTY GOING BOYS!

[TheDude]

$this->bbcode_second_pass_quote('', 'B')razil
Oil proved reserves, Thousand million barrels

2004 11.2

2005 11.8

2006 12.2

2007 12.6

2008 12.6

Change, 2007-2008 0.1%

[joewp]

$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[rangerone314]

$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[joewp]

$this->bbcode_second_pass_quote('rangerone314', '
')
Nice chart, but it overlooks what the price of that resource will be...

[Gazzatrone]

$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[eastbay]

$this->bbcode_second_pass_quote('Gazzatrone', '')$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[vtsnowedin]

Well it took 150 years to come up the front side of the oil consumption curve so it will probably take another 150 years to go all the way down the backside to zero. Considering the number of wars we fought with each other going up the good side I expect all of the back side of the curve to be tough times for all.

[hillsidedigger]

Does the total include the Alberta tar sands? If so, the total should be reduced by 200 billion barrels for it will take 200 billion barrels worth of energy to produce 300 billion barrels of oil from the tar sands.

I strongly suspect that certain key places like Saudi Arabia deliberately and dishonestly inflate their reserve estimates.

As well, the quality of the remaining oil will generally continue to decline with no decent and affordable oil to be on world markets after the year 2028 and likely much sooner.

The 'low hanging' and most attractive fruit was picked first so the decline in oil production will take nowhere near as long as the buildup in oil production.

"Well it took 150 years to come up the front side of the oil consumption curve so it will probably take another 150 years to go all the way down the backside to zero." Really?

At the beginning of oil production petroleum actually bubbled to the surface in places like Pennsylvania and Wyoming. At the end of oil production the remaining oil will be under 3 miles of water and 5 miles of ocean floor and with the technology collapse that will happen by the year 2028 (due to the loss of abundant, cheap oil), that deep oil will stay where it is.

[Grautr]

$this->bbcode_second_pass_quote('rangerone314', '')$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[vtsnowedin]

$this->bbcode_second_pass_quote('hillsidedigger', 'D')oes the total include the Alberta tar sands? If so, the total should be reduced by 200 billion barrels for it will take 200 billion barrels worth of energy to produce 300 billion barrels of oil from the tar sands.

I strongly suspect that certain key places like Saudi Arabia deliberately and dishonestly inflate their reserve estimates.

As well, the quality of the remaining oil will generally continue to decline with no decent and affordable oil to be on world markets after the year 2028 and likely much sooner.

The 'low hanging' and most attractive fruit was picked first so the decline in oil production will take nowhere near as long as the buildup in oil production.

"Well it took 150 years to come up the front side of the oil consumption curve so it will probably take another 150 years to go all the way down the backside to zero." Really?

At the beginning of oil production petroleum actually bubbled to the surface in places like Pennsylvania and Wyoming. At the end of oil production the remaining oil will be under 3 miles of water and 5 miles of ocean floor and with the technology collapse that will happen by the year 2028 (due to the loss of abundant, cheap oil), that deep oil will stay where it is.

[TheDude]

$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[3rensho]

$this->bbcode_second_pass_quote('vtsnowedin', 'W')ell it took 150 years to come up the front side of the oil consumption curve so it will probably take another 150 years to go all the way down the backside to zero. Considering the number of wars we fought with each other going up the good side I expect all of the back side of the curve to be tough times for all.

[VMarcHart]

$this->bbcode_second_pass_quote('joewp', 'A')t 10 percent growth per year the resource will last : 17 years

[KevO]

$this->bbcode_second_pass_quote('eastbay', '')$this->bbcode_second_pass_quote('Gazzatrone', '')$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Graeme', '
')At today's rate of use however there is still enough oil to last the next 42 years,

[AirlinePilot]

$this->bbcode_second_pass_quote('KevO', 'b')ut when is the actual peak? It's not about when it's all gone but when we need/use more than we can get. Isn't it?

[jedrider]

$this->bbcode_second_pass_quote('Graeme', 'A')t today's rate of use however there is still enough oil to last the next 42 years

[GHung]

Linear thinking just won't work here. As an engineer and large systems analyst I know that complex systems fail catastrophically. The more complex the system the more severe the ultimate failure. Our tangled globalweb of energy, economics, social systems, etc. is very complex.

About reductions in population due to starvation: really think billions of people are going to to just sit there and starve? I tend to agree with some of what was said years ago on http://www.dieoff.org. A lot of people are going to have to die to solve this problem.