This Just in...Oil to Run out in 20 Years!

Buy synthetic!

They said that 30 years ago.

The latest estimates indicate a 50 to 90 years supply, but given the increased consumption in places like China, I'd guess the 50 would be the more accurate guesstimate.

If we are to believe that this article was written by someone "in the know"; then why the errors... ?

"struggle in vein" ")

Ken

Yeap, ethanol will be the shit...

Plus we've not even begun to map out oil fields in canada, plus theres going to be pleanty to be found in the sea floor, if you think about it, texas and the middle east is but a small percentage of the earths surface, theres pleanty more oil where that came from...

Plus as soon as the oil wells in the middle east, the money there will dry up since the arabs have yet to develop any secondary industries to sustain them when their cash crop of oil disappears. With as much spending as they put into the military to try and destroy Israel, they will be bankrupted in no time, and the rich oil shieks will be no more. With the lack of funds, the amount of terrorist attacks by militant muslims will decrease and eventually disappear, since they will turn into another 3rd would region like Africa, no money, no resources, no leadership. So in 30-40 years, either if oil runs out or they have all immolated themselves against western culture, the terrorists will disappear.

I'm actually doing a study on this currently. Some interesting things to note. Now, when we run out, if we run out is one issue. There was a well known geologist by the name M. King Hubbert who in 1956 predicted the U.S. would have a major oil crisis starting 1972 as the peak production would come and then steadily fall. (Most of the U.S. oil by the way was discovered in the thirties just not recovered) As it turns out, Hubbert wasn't far off at all. 1970 marks the time when big changes happened concerning the U.S. oil industry. Another bold prediction was issued too. That WORLD oil production would peak around 1.8 trillion barrals produced in.... 2003. Even if that number is stretched to an incredible

2.2 trillion barrals, it only pushes the peak production year to around 2009. This is based on known reserves and all. Which by the way the largest is in Saudia Arabia at 75 million barrals worth. The U.S. consumes ALMOST 20 million per year. Either case, it certainly looks as though peak production followed by a steady decline is well within our lifetimes. About the oil off the coast of China. Yes, it's there, yes, we can get it. But not to be forgotten as someone posted, we are using it faster than we discover and recover it. Another problem exsists as well. The south China sea is filled with many small protrusions of land. Sometimes simply a rock. Countries that share the waters dispute about who it belongs to, which would then increase water territory, and ultimately the oil that a country could claim.

Something else that was devistating for me to see. The state department of Pennsylvania website listed that home mechanics purchased 11 million gallons of oil in 1999. Incredibly, 9.5 million gallons was dumped or thrown in the trash. Over 86%!!! The Exxon oil spill near Alaska was only 10 million gallons. That fact resonates throughout the U.S. as almost 94 million gallons was thrown out or dumped in 2002. Very sad indeed.

Tony

QUICK! BUY MORE SUVs!

The quicker the better!

Even Quicker...

NUKE 'EM ALL!

You're not using it fast enough.

PEDAL TO DUH METAL, DOOD!

"INSIDE INFORMATION The Insider is a website dedicated to the thriving online conspiracy theory community, debating current affairs, revealing the truth behind conspiracy theories, exposing any cover-up, and reporting the secret agenda. "

Oh yeah, this is a real credible source .... gag. A website dedicated to feeding the online conspiracy theory community.

I feel a hair-ball trying to get out!

John

Hey, it still comes down to OIL, don't it?

Castor Oil cures hair balls!

But, and that's a Beeg Ass Butt, who's hair is makin' up dim balls?

We are all doomed, we dont have a chance in hell now, its all over people. God have mercy on us all!

We're not "Doomed" and I take it you were being sarcastic. But we can't sit around with our thumbs up our butts and think it will always be there.

Tony

Could only snip the first few paragraphs of this article... goto site if you want more... =A0 NYTimes:=A0Home - Tight Oil Supply Won't Ease Soon By NEELA BANERJEE 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. Most oil-producing countries and the major oil companies already produce all they can. Smaller companies and wildcatters are reopening some mothballed wells, but their combined output is not nearly enough to affect the global supply. What little spare capacity there is is almost entirely in Saudi Arabia, which is willing to pump more =97 but the extra oil it could produce quickly is too heavy in sulfur for the main consuming nations.

The world economy has learned to roll with oil price spikes, so long as they are short-lived. But sustained high fuel costs will strain its ability to cope, experts say, and the current run-up is already starting to bite.

Wal-Mart Stores, for example, said last week that higher gasoline prices in the United States had taken an average of $7 a week out of the pockets of its customers, leaving them less to spend on other goods. Sales of some of the largest and most gas-hungry sport utility vehicles were down last month, compared with a year earlier. The nation's trade deficit widened to $46 billion in March, largely because of oil imports. And in Britain, the government is making contingency plans in case of mass protests against high fuel prices, the trade journal Platts Oilgram News reported Friday.

The oil industry is constantly looking for new supplies, and with crude oil closing at a record high of $41.38 a barrel in New York on Friday, producers have plenty of economic incentive to step up output. But developing a new oil field takes time, and energy companies can do little to rush projects, industry experts said. Marathon Oil, a large independent company based in Houston, is pumping its fields flat out =97 the equivalent of 365,000 barrels a day, counting crude oil and natural gas. That includes new fields in Russia that produce 15,000 barrels a day. Those fields have the potential to yield an additional 45,000 barrels, but only after five more years of investment and work, said Paul Weeditz, a company spokesman. Marathon's new projects in West Africa will take even longer. "Companies are always under pressure to grow production, so they are always trying to bring new wells on," Mr Weeditz said. "Many people may think it's a matter of turning the tap on and off, and that there's excess capacity, but that's just not the case."

Major oil producing areas like the North Sea and Nigeria, which produce the most desirable type of oil, known as light sweet crude for its low sulfur content, are operating at capacity. So are many of the refineries that turn the oil into usable fuels.

United States refineries were running at 96 percent of maximum output in April, the Energy Department said. As a result, wholesale gasprices reached record highs last week, and those prices are quickly passed along to consumers at the pump. "The worrying part is that no end is in sight for the oil price rally," said Jan Stuart, director of energy research at Fimat USA, the brokerage unit of Soci=E9t=E9 G=E9n=E9rale. "Whatever is driving this upward, those factors are not changing: high demand, lower inventories, supply that is constrained, and only in part by OPEC decisions, and turmoil in the Middle East."

Those price records are not adjusted for inflation. Several times in the

1970's and 1980's, prices hit what would be higher levels if converted into today's money. But those spikes occurred when supplies were disrupted by the Arab oil embargo and the Iran-Iraq war. With world demand so strong today and spare capacity so slim, the oil market is highly vulnerable to any new supply disruptions.

Many oil traders worry that terrorists may sabotage oil facilities, sending prices to new highs that could throttle the economic recovery. Since the situation in Iraq flared up last month, oil has become a prime target there. Suicide bombers tried to attack an offshore Iraqi oil terminal in late April, then blew up a major pipeline near Basra last week. Even more troubling, industry experts say, was the killing of foreign and Saudi oil workers at the Yanbu oil hub in Saudi Arabia.

Continued

1 | 2 | Next>> =A0=A0Copyright 2004=A0The New York Times

I better stock up when Wal-Mart has their sale.

Good thing I don't drive an oil burner or leaker.

========= Harryface =========

1991 Pontiac Bonneville LE 3800 V6 ( C ), Black/Slate Grey _~_~_~282,025 miles_~_~_

~_~_~_~_U.S.A._~_~_~_~_~_

~~~The Former Fleet ~~~

89 Cavalier Z 24 convertible 78 Holiday 88 coupe 68 LeSabre convertible 73 Impala sedan

Bullsh*t...

The human race has always adapted. Naysayers like the guy who wrote this always fail to account for human inventiveness and ingenuity. I started to write more, but that says it all.

-jwardl

Bobby Calif>

I for one would have to agree. If one thing isn't around, something else will come around that will take it's place. Phonographic records on Vinyl replaced by CDs, magnetic reel-to-reel tape decks and 8-tracks, even cassettes also replaced by CDs... nothing stays the same. I wouldn't be surprised if some alternate form of energy emerges eventually. Already our local utility company is selling wind-power, for example.

-- [*]~ Fuzzie Dice ~[*] Kitt: 1987 Pontiac 6000 w/ 145,000+ Miles Knight Dreams: The restoration of Kitt

Here's a good story on Peak Oil:

I also agree that the human race is adaptive. If we don't find a new energy source, we may make better use of one we have.

We can thank the automotive industry most because they seem to be making the most headway in coming up with ways to save.

Tony