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[Webby the Bear]

ok i have a question.....

is there any predictions about when oil will actually run out? so in other words do we have an idea when a new form of car fuel will NEED to be in the mainstream by??? people keep talking about ''oil running out'' but is that tomorrow or several decades away???

 

[Mysteryman]

ok i have a question.....

is there any predictions about when oil will actually run out? so in other words do we have an idea when a new form of car fuel will NEED to be in the mainstream by??? people keep talking about ''oil running out'' but is that tomorrow or several decades away???

 

Ask Nickbat, but be prepared for a bit of a read.

[Banjax]

i worked it out based on oil reserves and current consumption (ignoring the fact that generally we need more oil year on year, although the recession tempered the rate of increase slightly) i think off the top of my head it was something like 37 years 

but i'll recheck.

Nickbat thinks its infinite if i remember correctly 

[Nickbat]

ok i have a question.....

is there any predictions about when oil will actually run out? so in other words do we have an idea when a new form of car fuel will NEED to be in the mainstream by??? people keep talking about ''oil running out'' but is that tomorrow or several decades away???

 

The greenies will always go on about Peak Oil, but as I understand it, there is a great deal left. Indeed, much of the world has not even been surveyed. There is a reported 3 trillion barrels under the Rockies. Also, as the price rises, known marginal deposits become economically viable. There are also reports of some depleted oil fields repressurising leading to suggestions of abiotic (non-fossil) origins. All-in-all, Peak Oil has often been "seen", but on each occasion it has turned out to be merely a mirage.  

[Nickbat]

i worked it out based on oil reserves and current consumption (ignoring the fact that generally we need more oil year on year, although the recession tempered the rate of increase slightly) i think off the top of my head it was something like 37 years 

but i'll recheck.

Nickbat thinks its infinite if i remember correctly 

You don't remember correctly. I never used the word 'infinite'. 

[Webby the Bear]

Re: Price of oil
Reply #17 - Today at 19:50     i worked it out based on oil reserves and current consumption (ignoring the fact that generally we need more oil year on year, although the recession tempered the rate of increase slightly) i think off the top of my head it was something like 37 years   

but i'll recheck.

Nickbat thinks its infinite if i remember correctly   

37 years??? wow thats a very short time. however ill eithe be dead or wont be in any state to drive anyway so wont need petrol

and if i cant drive there aint much point in still being here 

infinite??? why would you think that nickbat??? bearing in mind it aint renewable

[Banjax]

according to CIA Factbook:

https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html

we roughly consume around 83.62 million bbls (barrels per day)

we roughly produce 84.24 million bbls

so as long as their is oil we can cope with demand at the moment (demand increases, but if we ignore that for now)

reserves are estimated to be 1.378 trillion bbls, so dividing reserves by consumption gives you:

1,378,000,000,000/83,620,000 = 16479 days = 45 years - bags of time..........

[Banjax]

Re: Price of oil
Reply #17 - Today at 19:50     i worked it out based on oil reserves and current consumption (ignoring the fact that generally we need more oil year on year, although the recession tempered the rate of increase slightly) i think off the top of my head it was something like 37 years   

but i'll recheck.

Nickbat thinks its infinite if i remember correctly   

37 years??? wow thats a very short time. however ill eithe be dead or wont be in any state to drive anyway so wont need petrol

and if i cant drive there aint much point in still being here 

infinite??? why would you think that nickbat??? bearing in mind it aint renewable

i was winding NB up on the infinite thing - but not long, 37 years is probably a better estimate as my rough workings take no account of increasing rate of oil consumption as china and india grow quickly - any way - not much left however you cut it 

[Dishevelled Den]

1,378,000,000,000/83,620,000 = 16479 days = 45 years - bags of time..........

In that case - LETS PARTY 8-)

[Nickbat]

according to CIA Factbook:

On any other occasion, BJ wouldn't trust a CIA document as far as he could throw it. 

[Banjax]

according to CIA Factbook:

On any other occasion, BJ wouldn't trust a CIA document as far as he could throw it. 

i trust the CIA documents I've written for them - the dossier on you is particularly enlightening 

[Nickbat]

according to CIA Factbook:

On any other occasion, BJ wouldn't trust a CIA document as far as he could throw it. 

i trust the CIA documents I've written for them - the dossier on you is particularly enlightening 

The one I wrote on you is classified. 

[Banjax]

according to CIA Factbook:

On any other occasion, BJ wouldn't trust a CIA document as far as he could throw it. 

i trust the CIA documents I've written for them - the dossier on you is particularly enlightening 

The one I wrote on you is classified. 

its all lies.....except the bit about the goat and the inflatable bed - thats true - but i was incredibly drunk