Tuesday, 3 May 2011

MASSIVE USA OIL RESERVES

When we hear that oil is running out and so, regardless of the valdity of the global warming theory, we must find new sources of energy,just look at this report, and this one One has to ask - just what is the point of leaving such massive reserves in the ground when utilising them would go along way to wiping out the country's national debt.

7 comments:

SBVOR said...

The USGS estimate is still low -- by about two orders of magnitude. The real figure is "on average, 200 billion barrels":

https://www.dmr.nd.gov/ndgs/Bakken/newpostings/07272006_BakkenReserveEstimates.pdf

See more here:

http://sbvor.blogspot.com/2008/07/oil-resources-in-usa.html

Hayduke said...

"just what is the point of leaving such massive reserves in the ground when utilising them would go along way to wiping out the country's national debt."

Profit.

SBVOR said...

Hayduke,

It sounds as though you are promoting a grand conspiracy theory on the part of big oil.

There is one glaring hole in any such theory -- the goddamn government bureaucrats who abuse the force of law to PREVENT energy companies from developing the #@$!@$#% resources!

GEEZ!

SBVOR said...

Hayduke,

Did Shell spend $4 BILLION just so they could leave the oil in the ground?

No! The filthy, stinking bureaucrats at the EPA denied Shell permission to drill because the EPA morons objected to the CO2 emissions from a freaking ice breaker to be used in the project:

http://sbvor.blogspot.com/2011/04/epa-tyrants-block-drilling-over-co2.html

The conservative mean estimate is that we have 800 BILLION barrels of oil shale. But the Feds will NOT allow ANYBODY to develop it:

http://sbvor.blogspot.com/2008/07/oil-resources-in-usa.html

Derek Tipp said...

Thanks for the links SBVOR. It's good to have your input.

SBVOR said...

Derek,

Thanks...

Sorry if I vented a bit on Hayduke. This topic really makes my blood boil.

I get so dang sick of the stupidity, ignorance and mendacity it just makes me want to puke.

Eclipse Now said...

3 to 4.3 Billion Barrels

500 billion to 1.1 trillion recoverable barrels

Then what?

Let's add these, and call it 1.105 trillion barrels, cool?

That's 1,105 billion barrels, OK?

America uses 21 million barrels of oil a day or 7,665 million a year.

So 1,105,000 million / 7,665 million a year = 144 years.

Problems: water limits, scaling up in time for peak oil, massive environmental pollution, Hirsch report has concluded that it's already too late to prepare for peak oil (as it should have started 20 years ago), and the final one: it's FINITE!

144 years!

What then?

Well, you may not even have 144 years.

Think about economic growth.

1% economic growth over 1 human lifetime of 70 years = consumption doubled.
2% growth (and the associated extra oil consumption) = consumption quadrupled.
3% = 8 times the consumption!

That 144 years is shrinking every year you have economic growth and your consumption edges upwards....

But basically I think that these reports are way too bullish as to what is available and how fast they can come online. America is already bleeding economically to the tune of $600 billion a year. After peak oil around 2015 it will be probably in the order of a TRILLION DOLLARS A YEAR! It's too late.

I say forget all that. When even right wing bloggers like Orscon Scott Card have mentioned the wonders of New Urbanism for lifestyle, health, economic and oil-independence, the options are clear. Suburbia should be rolled back into New Urban townships that are far far less oil dependent. Suburbia is not the 'American way' — the American way is that 'anyone can make it'.

This 52 documentary explains largely where I'm coming from. Even though I'm an Aussie, I've met some of these people on their Australian tours. I even briefed the NSW Upper house minority parties that $100 was coming, and this was way back in mid 2005 when things were looking scary at just $60 a barrel. How was that prediction for you?

End of Suburbia