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I find it amusing that these so called experts and especially the environmentalists constant claims of we're running out of fossil fuels. And yet all this oil keeps popping out no where. Someone is obviously not telling the truth.
I find it amusing that these so called experts and especially the environmentalists constant claims of we're running out of fossil fuels. And yet all this oil keeps popping out no where. Someone is obviously not telling the truth.
It's not technically an untruth. Oil is a limited resources given how long it takes for oil to form. While millions of years from now, new oil will be available, currently, there is a finite supply of it.
As to how much, that's debatable.
Let's also keep in mind that the oil reserves does not mean that there is more oil in the world than there was a day ago. It means the US has more of the oil that was already there. This technically doesn't conflict with those who say we are running out of fossil fuels.
Peak oil... A claim technology has since bypassed.
The 'sad' part is humanity rarely changes till it has too. I'm all for EFFICIENT, non government influenced, non activist lobbied regulated, alternative energy sources that can compete with coal, nattie gas, and good ole black gold. But, we just aren't there yet.
I find it amusing that these so called experts and especially the environmentalists constant claims of we're running out of fossil fuels. And yet all this oil keeps popping out no where. Someone is obviously not telling the truth.
Predictions on oil reserves are always based on "known reserves". It is always possible to find previously unknown reserves, or reserves whose extents were previously unknown. This is particularly true with new (compared to decades ago) technology that aid petroleum geologists in finding and assessing oil fields without having to sink test drills.
I have a friend that worked on a research boat that was funded by Big oil and they took sands all around the world...he told me there is a lot more oil than is reported. It really comes down to cost necessary to recover it. Now with the technology we now have, more US and Russian oil is commercially recoverable. It's a great position to be in, we can turn the spout on and off (not easy I know) based on price and demand. Eventually, alternative energy sources will reach a point of price competitiveness but that's likely decades in the future.
I find it amusing that these so called experts and especially the environmentalists constant claims of we're running out of fossil fuels. And yet all this oil keeps popping out no where. Someone is obviously not telling the truth.
I don't think anyone was claiming we'd run out of oil immediately. It was always a long-term hypothesis, plus the argument that we'd hit a peak in production.
And the US having larger reserves than the Saudis right now means exactly nothing in the context of the long-term oil supply.
Last edited by le roi; 07-05-2016 at 10:27 PM..
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