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[Nickbat]

I've heard so much about peak oil recently, how we're going to run out of it within a few years. I feel the truth is somewhat different:

"175-315 Billion barrels of oil are recoverable at $15 a barrel in the Oil Sands of Alberta, Canada. With a remaining potential of 1.7-2.5 Trillion barrels. In Canada's oil sands alone, the supplies will last over 100 years."

http://www.populartechnology.net/2008/11/peak-oil-is-myth.html


meanwhile, in Greenland...

"Seismological analyses have pinpointed enormous oil reserves, especially off the west coast. EU governments estimate that Greenland's reserves total at least 110 billion tons. Two smaller fields west of Nuuk, with reserves of about 2 billion tons, are believed to contain as much oil as the amount produced in the North Sea over the last 40 years."

http://www.spiegel.de/international/world/0,1518,590078,00.html


Not what the Greenies want you to read!  

[albitz]

Mustnt keep challenging the accepted wisdom Nickbat,The thought police will make you hug a tree until you,ve learnt the error of your ways. ........sounds like good news though.

[Nickbat]

Mustnt keep challenging the accepted wisdom Nickbat,The thought police will make you hug a tree until you,ve learnt the error of your ways. ........sounds like good news though.

Now I'm a Baron, I can do what I like!  

[albitz]

well done fella .......an oil Baron

[Mr Skrunts]

Congrats Sir Oil Baron.  

[Banjax]

congrats on your baronship Nickbat  

interesting reading, there are billions invested in dissproving peak oil theory, the reasons for this are obvious:-

a) the more oil you say you have, the more stable your economy is
b) oil companies are worth more if they claim more resources
c) countries with decent amounts of oil are and will be protected and have a greater say internationally or kudos if you like

always follow the money - look at who these mythbusters work for, or are funded by

yes there are massive amounts of oil in the sand in canada and saudi arabia - its getting it out and refining it thats the problem - these oil sands are full of contaminants including metals making most of the saudi stuff unusable

i've seen this figure of $15 a barrel to extract - $15 is the magic number that always seems to be plucked from thin air - it was $15 a barrel when they talked about extracting oil from household garbage and sewage a few years back

so yep, there is oil out there, but we're using what we've got at a higher rate each year so i wouldnt rely on this sand oil buying us more than a few years - and at what cost?

i've stated this earlier - i'm not an eco-warrior or a greenie - but we will run out of oil - its a finite source thats getting harder and harder to extract - we will soon, quite literally, be scraping the barrel!! 8-)
so whether its 2012 or 2030 we really don't need the "never-ending pot of gold" theory - its not helping anyone but oil companies  

i'd love to believe oil will last forever - but it's a fairytale i'm afraid nick  

[Nickbat]

congrats on your baronship Nickbat  

interesting reading, there are billions invested in dissproving peak oil theory, the reasons for this are obvious:-

a) the more oil you say you have, the more stable your economy is
b) oil companies are worth more if they claim more resources
c) countries with decent amounts of oil are and will be protected and have a greater say internationally or kudos if you like

always follow the money - look at who these mythbusters work for, or are funded by

yes there are massive amounts of oil in the sand in canada and saudi arabia - its getting it out and refining it thats the problem - these oil sands are full of contaminants including metals making most of the saudi stuff unusable

i've seen this figure of $15 a barrel to extract - $15 is the magic number that always seems to be plucked from thin air - it was $15 a barrel when they talked about extracting oil from household garbage and sewage a few years back

so yep, there is oil out there, but we're using what we've got at a higher rate each year so i wouldnt rely on this sand oil buying us more than a few years - and at what cost?

i've stated this earlier - i'm not an eco-warrior or a greenie - but we will run out of oil - its a finite source thats getting harder and harder to extract - we will soon, quite literally, be scraping the barrel!! 8-)
so whether its 2012 or 2030 we really don't need the "never-ending pot of gold" theory - its not helping anyone but oil companies  

i'd love to believe oil will last forever - but it's a fairytale i'm afraid nick  

It can't last forever, nothing can. But you are barking up the wrong tree if you think the myth of peak oil is being perpetuated by those in the pay of oil companies. The myth is being perpetuated by those who do not like economic growth, capitalism, etc. Only a relatively tiny, proportion of the world's surface has been surveyed and more oil is being found regularly.  

It's not a fairytale.

BTW, I recall you saying that petrol would never ever go below £1 litre again.  

[Lizzie_Zoom]

Well done Nickbat for some great posting!!

[hoody]

a bit like the Ozone layer,remember that crock

[Dusty]

a bit like the Ozone layer,remember that crock

 Getting Back in place more or less now.

Needed some help though.

[Lizzie_Zoom]

a bit like the Ozone layer,remember that crock

Yes Hoody, that made us guilty of using aerosol cans or breaking fridges and freezers in the street!

[Banjax]

It can't last forever, nothing can. But you are barking up the wrong tree if you think the myth of peak oil is being perpetuated by those in the pay of oil companies. The myth is being perpetuated by those who do not like economic growth, capitalism, etc. Only a relatively tiny, proportion of the world's surface has been surveyed and more oil is being found regularly.  

It's not a fairytale.

BTW, I recall you saying that petrol would never ever go below £1 litre again.  

troll  

yeah - i didn't see the complete global collapse of the international money markets - you got me on that one