At 09:08 AM 7/17/00 -0400, James Taggart wrote:
>
>
>Someone told me once that we've had a 10-year supply of oil available for the
>last 100 years.
>
>Your comment about oil-shale requiring a barrel of oil per barrel of oil
>retrieved is relevant, but
>as the price of oil rises, previously uneconomical oil retrieval becomes
>feasible. I can't claim to
>be an expert (certainly not to you!), but I'd guess the econonmics of it will
>drag out the decline
>longer than you predict.
I agree that there have been many false alarms. But it is true that the
average field lasts only about 5-10 years before being depleted. THis is
why people have said that we only have a 10 year supply. At any one time
that is about it. The difference this time is that for 20 years, 2/3 of my
career, the world has been consuming much more than we have been
finding--15 billion barrels per year more as of this year.
As to oil shale, ask yourself this. Would you invest your money in a bank
that would only guarantee you the return of your money? That is what oil
shale is with current technology. If you answer yes to that question,
please send me your money. I will give it back to you after I make a few
quid on interest. :-)
glenn
Foundation, Fall and Flood
Adam, Apes and Anthropology
http://www.flash.net/~mortongr/dmd.htm
Lots of information on creation/evolution
This archive was generated by hypermail 2b29 : Mon Jul 17 2000 - 21:49:57 EDT