[copious.abundance]

That's the EIA's estimate of the technically recoverable amount of shale gas in 48 major shale gas basins in 32 countries.

And it doesn't even include Russia, parts of eastern Europe, large portions of Asia (including the Middle East) and most of Africa!

CLICKY

Abundance - what a concept!

[Outcast_Searcher]

6.6+ quadrillion cubic feet. That's a lot!

That should certainly provide a BRIDGE between oil cost/depletion issues and green tech. Data like this, which seems to balance other issues like AGW, is why I remain a moderate, despite frequent displays of massive human stupidity.

Of course, now I guess PSTARR can tell us, once again, how it is impossible to use natural gas as a transportion fuel, since it would be somewhat less convenient than BAU with oil.

[meemoe_uk]

6622*10^12 / ( world annual consumption = 120*10^12 ) = 55.2 years supply at 2010 consumption rate.

[Sys1]

"technically recoverable"

I highlight this part because peak oil is not about how much oil is left but how much oil is cheap, aka with an EROEI largely superior to 1.
It's pretty weird that we have on this site old members posting again and again newb threads. If they really think oil is plentyfull and GW is an hoax, I can't even get why they waste their precious time on a conspiracy site like peak oil. They should just get in their SUV and start driving around here and there in Wallmarts, buying junk food and watching Hollywood movies with 3D glasses.
This crazy assumption of 55 years of oil (meaning for Joe Sixpack that everything will be fine for the next 54 years) is far more dangerous than admitting that our economy is already doomed. There is not any more such thing as business as usual.

[joewp]

55 years at today's consumption rate... of course everybody is expecting that to grow somewhat, I would imagine.

Well, if you have steady growth in the rate of consumption of that natgas, this is what will happen:

At 1 percent growth the resource will last : 44 years
At 2 percent growth the resource will last : 37 years
At 3 percent growth the resource will last : 33 years
At 4 percent growth the resource will last : 30 years
At 5 percent growth the resource will last : 27 years
At 6 percent growth the resource will last : 25 years
At 7 percent growth the resource will last : 23 years
At 8 percent growth the resource will last : 22 years
At 9 percent growth the resource will last : 21 years
At 10 percent growth the resource will last : 20 years

So just 5% growth per year will halve the time that resource will be exhausted.

Of course, we know you can't pump it all out at ever increasing rates, so that can't happen. We know it will peak at about half that time and start to go down.

In light of these plain facts, OF2 just seems so shrill, doesn't he?

[vision-master]

This thread has a funny odor to it?

[Keith_McClary]

Wow! It's all over the place!

spread very thinly.

Compared to conventional O&G, which is concentrated in a few tiny patches:

It's called:


or:

[americandream]

$this->bbcode_second_pass_quote('OilFinder2', 'T')hat's the EIA's estimate of the technically recoverable amount of shale gas in 48 major shale gas basins in 32 countries.

And it doesn't even include Russia, parts of eastern Europe, large portions of Asia (including the Middle East) and most of Africa!

CLICKY

Abundance - what a concept!

[copious.abundance]

$this->bbcode_second_pass_quote('americandream', 'I')f this is true, one would reasonably be expecting to see some unwinding of the many long positions in oil in due course, as in by the end of the year at the latest, and oil settling in some long term trading range.

If this does not transpire, these assets are cleary not tenable.

[copious.abundance]

$this->bbcode_second_pass_quote('joewp', '5')5 years at today's consumption rate... of course everybody is expecting that to grow somewhat, I would imagine.

[...]

In light of these plain facts, OF2 just seems so shrill, doesn't he?

[americandream]

$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('americandream', 'I')f this is true, one would reasonably be expecting to see some unwinding of the many long positions in oil in due course, as in by the end of the year at the latest, and oil settling in some long term trading range.

If this does not transpire, these assets are cleary not tenable.

[CuriousCarl]

Forget fossil fuels fellas. The future of energy is Thorium. A clean green nuclear fuel that is even more abundant than natural gas, and provides 200 times the energy as uranium with ZERO emissions and ZERO chance of a meltdown. 8 tablespoons of Thorium can power an average home for 50 plus years at less than half the cost of what an average American family spends on gasoline. For more on Thorium check out this link or google it.

http://www.ans.org/pi/ps/docs/ps78.pdf

What's really sad is that our government has acknowledged Thorium as a preferred fuel since 1959, but never pursued it because it cannot be used to make atomic weapons! And we have the nerve to chastize Iran and other countries for the same thing we have already done ourselves! The good news is that every nuclear reactor that uses dangerous uranium can be converted to use Thorium in less than one week. Thorium is half the cost of Uranium and 600 times more plentiful. But sorry, can't use it to kill people - damn!

[americandream]

$this->bbcode_second_pass_quote('CuriousCarl', 'F')orget fossil fuels fellas. The future of energy is Thorium. A clean green nuclear fuel that is even more abundant than natural gas, and provides 200 times the energy as uranium with ZERO emissions and ZERO chance of a meltdown. 8 tablespoons of Thorium can power an average home for 50 plus years at less than half the cost of what an average American family spends on gasoline. For more on Thorium check out this link or google it.

http://www.ans.org/pi/ps/docs/ps78.pdf

What's really sad is that our government has acknowledged Thorium as a preferred fuel since 1959, but never pursued it because it cannot be used to make atomic weapons! And we have the nerve to chastize Iran and other countries for the same thing we have already done ourselves! The good news is that every nuclear reactor that uses dangerous uranium can be converted to use Thorium in less than one week. Thorium is half the cost of Uranium and 600 times more plentiful. But sorry, can't use it to kill people - damn!

[Frank]

If someone can figure out how to extract that shale gas w/o poisoning water and generating so much pollution then maybe we're onto a decent transition fuel. However, as Josh Fox ("Gasland") puts it so eloquently (I'm paraphrasing): "it's a desperation move - getting gas by breaking rocks". Even if there really is 100+ years total supply I suspect oil will peter out before then and with growth in the 5+%/year range we still only have a couple of generations worth of the stuff. Oh yeah, what's the EROEI anyway?

The fossil fuel age is OVER folks - today or 40 years from now, it doesn't much matter. The sooner we transition the better. Yes I know that life will change, but it's going to happen if we plan for it or not - your choice...

[Keith_McClary]

$this->bbcode_second_pass_quote('OilFinder2', 'N')ow, who is the shrill?

[kildred590]

$this->bbcode_second_pass_quote('', '6')622*10^12 / ( world annual consumption = 120*10^12 ) = 55.2 years supply at 2010 consumption rate

[Serial_Worrier]

So we've got a few decades worth before exhaustion. Why the joy OF2?

[seenmostofit]

$this->bbcode_second_pass_quote('Serial_Worrier', 'S')o we've got a few decades worth before exhaustion. Why the joy OF2?

[Lore]

$this->bbcode_second_pass_quote('seenmostofit', '')$this->bbcode_second_pass_quote('Serial_Worrier', 'S')o we've got a few decades worth before exhaustion. Why the joy OF2?