[Ferretlover]

$this->bbcode_second_pass_quote('Richard', 'J')ust to let you know that the CIA have whipped out another 300 billion barrels! That means we've discovered more in the 2002-2005 period than we've consumed! Yeah baby!

[EnergyUnlimited]

$this->bbcode_second_pass_quote('gg3', 'A')lmost in balance means out of balance shortly.

What California needs badly is a few more nuclear reactors and a few large wind installations. I can think of a place to get about 500 megawatts of wind, but the "views first" crowd might not like it.

[Tanada]

$this->bbcode_second_pass_quote('EnergyUnlimited', '')$this->bbcode_second_pass_quote('gg3', 'A')lmost in balance means out of balance shortly.

What California needs badly is a few more nuclear reactors and a few large wind installations. I can think of a place to get about 500 megawatts of wind, but the "views first" crowd might not like it.

[MindRioter]

every now and then a retired agent seems to be speaking the truth yet even then they are suspect.

[muon]

One trillion sounds a lot, but when I work it out it comes to about 36 years at current rates of consumption. If *everyone* knew this, wouldn't it shock them somewhat?

That isn't even taking into account that decline rates go down a slope and not a cliff.

If the CIA numbers come from reserves posted by OPEC countries, I have read they may be very inflated, and taking that into consideration would mean possibly 40% less reserves than the CIA figure given.

[Barbara]

Not quite. CIA uses "proven". There are also "possible" and "probable" reserves, which can magically become "proven" any moment.

[Madpaddy]

smallpoxgirl wrote,
$this->bbcode_second_pass_quote('', 'A')nybody know how much is in a firkin of natural gas?

[Raminagrobis]

$this->bbcode_second_pass_quote('nero', 'T')he numbers for consumption and production are very hard to compute for the entire world. Lot's of states don't want to be entirely forthcoming with the data. I think the 500,000 barrels isn't outside that margin of error.

[roccman]

Globe and Mail

$this->bbcode_second_pass_quote('', 'F')rom Wednesday's Globe and Mail

November 21, 2007 at 6:04 AM EST

OTTAWA — ***In a massive new multivolume report on energy strategy in the United States, a high-powered federal task force puts "peak oil" into perspective. On the one hand, it says, the country has already consumed, in 150 years, 446 billion barrels of its own fossil-fuel endowment. *On the other hand, it says, the country has 8.59 trillion barrels left - or more "oil equivalent" than the rest of the world combined. More than 95 per cent of America's oil reserves, in other words, are still in the ground*.***

Canada enters this particular calculation in passing. "North American oil shale and [oil] sands alone far exceed all the remaining proven and undiscovered oil resources of the entire world," the task force reports. "They represent 3.5 trillion barrels of oil resources. ****America' s commercial-quality oil shale resources alone exceed two trillion barrels. This shale can be processed to generate ultraclean, high-quality diesel and jet fuels, along with high-value chemicals - with existing technologies under normal economic conditions." ****

****Further, U.S. coal reserves exceed 260 billion tons - "250 years of supply at the existing production rate [for electricity] of 1.1 billion tons a year." The task force says clean coal can be the largest and quickest single new source of oil in the U.S. - and that the conversion can be economic (producing a 15-per-cent return on investment) with world oil prices between $40 to $50 (U.S.) a barrel.****

[highlander]

All we need are a few dozen fast breeder reactors, some large desalinazation plants and a place to dump the waste. We are golden.
Should have all that up and running about the middle of the next presidents term, right? After all, all the major candidates have a viable energy policy, right?

[roccman]

Where is Planetagenetwork anyway and his breeder reactor cheerleading?

[clueless]

8.59 trillion barrels left ?


Happy Thanksgiving Rocco....

[Valdemar]

To quote Ripley, did IQs drop sharply whilst I was away? Why are these retards still pounding the oil shale/tar sands drum as if it's brand new and totally untested? We know it's bollocks all in the grand scheme of things, bar a money pit. Surely investors aren't this gullible or ignorant.

[NeoPeasant]

They neglect to mention that of the 8.59 trillion, roughly 8 trillion will be consumed in the production process, leaving 0.59 trillion to enter the non energy production economy.

[Duende]

NeoPeasant wrote:
$this->bbcode_second_pass_quote('', 'T')hey neglect to mention that of the 8.59 trillion, roughly 8 trillion will be consumed in the production process, leaving 0.59 trillion to enter the non energy production economy.

[erb]

"the country has 8.59 trillion barrels left - or more "oil equivalent" than the rest of the world combined. More than 95 per cent of America's oil reserves, in other words, are still in the ground"


what?

then why am i getting myself all worried? we'll be fine and so will our kids. we're just using up everyone elses so north america can go back to being an oil exporter at 150$ a drum and make our windfall, the dollar goes back up and we keep buying

wooohoooo!!

[lexicon]

$this->bbcode_second_pass_quote('roccman', '
')Someone should tell these folk to check out Hall's latest EROI report before posting such nonsense...

$this->bbcode_second_pass_quote('', 'C')harlie Hall's latest research shows the EROI of existing oil and gas is about 25 to one, but that NEW oil is approaching 1 to 1, which means that the discovery of new oil may be irrelevant after 2015 to 2020.

When asked about how the future might unfold, he mentioned that he thought that people will not be willing to make the capital investments needed to build solar, wind, and so on when oil was costing them $10 per gallon or more.

[lexicon]

$this->bbcode_second_pass_quote('roccman', 'S')omeone should tell these folk to check out Hall's latest EROI report before posting such nonsense...

$this->bbcode_second_pass_quote('', 'C')harlie Hall's latest research shows the EROI of existing oil and gas is about 25 to one, but that NEW oil is approaching 1 to 1, which means that the discovery of new oil may be irrelevant after 2015 to 2020.

When asked about how the future might unfold, he mentioned that he thought that people will not be willing to make the capital investments needed to build solar, wind, and so on when oil was costing them $10 per gallon or more.

[roccman]

$this->bbcode_second_pass_quote('lexicon', '')$this->bbcode_second_pass_quote('roccman', 'S')omeone should tell these folk to check out Hall's latest EROI report before posting such nonsense...

$this->bbcode_second_pass_quote('', 'C')harlie Hall's latest research shows the EROI of existing oil and gas is about 25 to one, but that NEW oil is approaching 1 to 1, which means that the discovery of new oil may be irrelevant after 2015 to 2020.

When asked about how the future might unfold, he mentioned that he thought that people will not be willing to make the capital investments needed to build solar, wind, and so on when oil was costing them $10 per gallon or more.