End of oil is around the corner~~~what do we do ?

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justme2
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End of oil is around the corner~~~what do we do ?

Post #1

Post by justme2 »

Below is what I have found. You can do the math
Globally, crude's reserves-to-production ratio has hovered between 40-55 years. The 1P estimate is an estimate of proven reserves, what is likely to be extracted from a well, 90% probability. Probable reserves are given 50% certainty (2P) and possible reserves a 10% certainty (3P).
https://tinyurl.com/yd7cfczq
https://tinyurl.com/yd7cfczqv

Overall, global supply fell by 720,000 barrels per day in August, .2017
https://tinyurl.com/yctnaj3f

our forecast horizon we will be in a 104 mb/d market and the call on OPEC crude and stock change rises from 32.2 mb/d in 2016 to 35.8 mb/d in 2022. With the group forecast to add 1.95 mb/d to production capacity in this period, this implies that available spare production capacity will fall below 2 mb/d.
https://www.iea.org/Textbase/npsum/oil2017MRSsum.pdf

Oil is a resource… it will run out
For decades now, the topic of when our oil will run out has been the focus of analysts and industry experts. The concern is real. Oil is a resource and will eventually be depleted. Once we discover and process all sources, there’s nothing else. It’s only a question of time.

Oil still remains the largest source of primary energy worldwide. According to the U.S. Energy Information Administration, the global supply of oil, bio-fuel and liquid hydrocarbons are still enough to meet the global demand for liquid fuels for another 25 years. The good news is that developing countries are now seriously exploring and using alternative and renewable energy.

Here’s the latest report on Oil Consumption and Demand.
1. The world oil consumption per day is 91.7 million barrels as of May 2014.
2. The U.S. is the largest oil consumer in the world, using up 18.83 million barrels a day.
3. China uses 10% of the world’s oil. It is expected to overtake the U.S. as the largest oil consumer.
4. The global oil demand is expected to increase by 1.3 million barrels a day by late 2014.
http://www.theworldcounts.com/stories/W ... on-per-Day

North Sea is running too dry to meet target
Wednesday July 4, 2007
http://environment.guardian.co.uk/energ ... 52,00.html

The real casus belli: peak oil
Tuesday June 26, 2007
https://tinyurl.com/ydbn6h5w

Science Panel Finds Fault With Estimates of Coal Supply
Published: June 21, 2007 http://www.nytimes.com/2007/06/21/business/21coal.html

Chevron announces that they now have 11.8 years of oil left at current production levels after aquiring Unocal reserves
07/08/05
https://tinyurl.com/y9czea39

An Oil Enigma: Production Falls Even as Reserves Rise
Published: June 12, 2004
http://www.nytimes.com/2004/06/12/busin ... anted=3&hp

"The decline of oil and gas will affect the world population more than climate change"
https://tinyurl.com/y9vjsms2

In January 2001, the U.S.
Department of Energy estimated the world's supply of unexploited oil reserves the world supply of oil will be totally exhausted 35 years from now (June 2003).
http://members.aol.com/mpwright9/oil.html

World oil and gas 'running out'
Thursday, October 2, 2003 Posted: 1245 GMT ( 8:45 PM HKT)
https://tinyurl.com/y9vjsms2

The Oil Crunch
Published: May 7, 2004
The question, instead, is when the trend in oil prices will turn decisively upward. That upward turn is in-evitable as a growing world economy confronts a resource in limited supply. But when will it happen? Maybe it already has.
http://www.nytimes.com/2004/05/07/opinion/07KRUG.html

Natural gas markets undergo turbulent transition as domestic production declines
Tuesday, December 16, 2003
https://tinyurl.com/ybpe8z7o

"Texas' oil resource is pretty well picked over,"
https://tinyurl.com/y7zcarzf

Oman's Oil Yield Long in Decline, Shell Data Show
Published: April 8, 2004
http://www.nytimes.com/2004/04/08/busin ... IL.html?hp

Half of Texas’s oil wells have dried up in the past 40 years and there are very few new ones.
https://tinyurl.com/y7zcarzf

Tight Oil Supply Won't Ease Soon
Published: May 16, 2004
Two dollars for a gallon of gas? Get used to it. High fuel prices are here to stay, at least for the near future, because no relief is in sight for tight oil supplies.
https://tinyurl.com/ylpmx5z

The end of the Fossil Fuel era is upon us so what are we going to do next-?
:?:

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Re: End of oil is around the corner~~~what do we do ?

Post #11

Post by Tcg »

thomasdixon wrote: Sun May 23, 2021 12:03 pm
I have an idea concerning electric cars.
I envision you drive up to your filling station, much like a gas station today. There are alignment tracks that you drive along and then the red-light pops on saying “STOP”. Much like a car wash. You put on your parking brake, a machine reaches up under your car and removes a large, discharged battery and a charged one is put in to replace the discharged one. Within ten (10) minutes or less you have exchanged your discharged battery with a charged one. Now off you go with a 300-mile charged battery.
:D
That's not a bad idea. I think they'd need to get the exchange time closer to 5 minutes, but that'd be feasible too I'd think.


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Re: End of oil is around the corner~~~what do we do ?

Post #12

Post by thomasdixon »

Tcg wrote: Sun May 23, 2021 6:48 pm That's not a bad idea. I think they'd need to get the exchange time closer to 5 minutes, but that'd be feasible too I'd think.
Tcg
Great, that makes two (2) of us. At least it is a start :P

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Re: End of oil is around the corner~~~what do we do ?

Post #13

Post by benchwarmer »

thomasdixon wrote: Fri May 28, 2021 5:19 pm
Tcg wrote: Sun May 23, 2021 6:48 pm That's not a bad idea. I think they'd need to get the exchange time closer to 5 minutes, but that'd be feasible too I'd think.
Tcg
Great, that makes two (2) of us. At least it is a start :P
Hopefully ultracapacitor/supercapacitor technology will continue to improve to the point they are a viable supplement and/or replacement for electric car batteries. They can be charged very quickly.

It would also be nice if cars could be "microcharged" at stop lights, in parking lots, highway rest stops, etc. i.e. you park over a pad for a short period and regain some/all your charge.

I look forward to the day all the maintenance and hassle of gasoline engines goes away. Electric motors are not perfect, but require so many less parts. I have a theory this is one of the reasons large auto manufacturers were not keen to jump onto the electric band wagon quickly. The revenue stream of constant maintenance and spare parts would surely be much less. Of course I'm sure they will find a way to continue to require people to keep pouring money into their vehicles.

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