Re: R.I.P. General Motors (1931-2006)

Oil reserves are based on profitable recovery based on current oil prices. With the higher oil prices more oil is recoverable from current fields and new oil fields will be explored. An example of this is the huge reserves in Alberta's oil sands, where production is currently limited by available labor. At current oil prices recovery is very profitable. If the higher oil prices stick many newer fields will be explored in northern Canada.

It is true that the rapidly developing Asian countries will consume an increasing amount of oil, but unfortunately the west is consuming an increasing amount, particularly in NA because of our excessively large vehicles. In Europe much higher gasoline prices limit vehicle size. Obviously gasoline isn't expensive enough yet in NA.

Reply to
Spam Hater
Loading thread data ...

There is a limited amount of oil in the ground. Each year, millions of gallons of that oil are pumped out of the ground. Some of the oil experts are of the opinion that the amount of oil in the world has now "peaked". On a bell curve, the peak is the very top center of the bell curve. In other words, we are now on the wrong side of the bell curve. Only God knows when the last barrel of oil will be pumped out of the ground. We can only hope that alternative fuels are developed within the next 20 years. It's my opinion that we have enough oil to last at least 20 to 40 years--I am only guessing. Jason

Reply to
Jason

Yes you are guessing and so would anyone because the amount of oil we get out of the wells is related to the selling price of oil. It has to sell for a profit or it won't be pumped out. The more difficult it is to pump out the higher the delivered price must be.

The alternatives you mention will happen. Looking at the history of fuels the alternative has become more common well before the current fuel has run out. Lots of coal for fuel left in the ground!

So let the price of gasoline rise and we will have fuel for some time. Tough on the big three automakers who did so well selling those monster SUVs.

Reply to
Spam Hater

Reply to
Jason

They will probably change their minds when the eventual lack of energy impacts their ability to live their lives as they want to. That's a big variable as some people can live with less energy than others, but it will eventually impact everyone if alternative fuels are not developed. As for when that will happen, I don't know.

BTW, I agree that fuel prices in NA are still actually very low vs world standards. I'm not saying I like them where they are. I'm just facing the reality that we've been getting off easy for a long time. That's part of the reason that people continue to buy those big SUV's in NA when the rest of the world doesn't due to the MUCH higher fuel proces.

Reply to
Lee Florack

MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.