CL60
Well-known member
- Joined
- Feb 10, 2002
- Posts
- 230
OGJ
The estimates of world reserves can be found in the Oil and Gas Journal, a primary source for world reserves. A 50 year "well dry" theory has been around since the 1970's.
Since estimates continue to change due to new discoveries and advanced retrieval technologies the real question should be: When will it no longer be economically feasible to retrieve the world's known oil and gas reserves? Most experts say that we will run out of ways to economically get the go juice before we run out of it. Here are a few paragraphs from the journal:
"The countries with the largest amounts of remaining oil reserves are: Saudi Arabia, Canada, Iraq, United Arab Emirates, Kuwait, Iran, Venezuela, Russia, Libya, and Nigeria.[1] The largest reserves of natural gas are found in: Russia, Iran, Qatar, Saudi Arabia, United Arab Emirates, United States, Algeria, Venezuela, Nigeria, and Iraq."
"Discovered (or known) resources can be divided into proved reserves and prospective or unproved (probable and possible) resources. “Proved reserves” are the quantities of oil or gas from known reservoirs and expected to be recoverable with current technology and at current economic conditions. Prospective resources are those that may be recoverable in the future with advanced technologies or under different economic conditions."
"No one can know for certain how much oil and gas remains to be discovered. But geologists sometimes make educated guesses. For example, the U.S. Geological Survey (USGS) conducts periodic assessments of U.S. mineral resources. In its most recent assessment (1995), the USGS estimated that the onshore U.S., including Alaska, has undiscovered, technically recoverable resources of 112.3 billion barrels of oil and 1,074 trillion cubic feet of natural gas. In a separate assessment of offshore resources completed in 2000, the U.S. Minerals Management Service (MMS) estimated that 75 billion barrels of oil and 362 trillion cubic feet of natural gas underlie the areas off the coasts of the U.S. The USGS and MMS resource assessments make clear that, despite being a very mature producing area, substantial resources still exist in the U.S. No comparable worldwide assessment exists, but this estimate gives an indication that substantial volumes of oil and gas remain to be found."
To answer your question: 'What will happen when fossil fuels are no longer available?' "Planet of the apes baby..."
The estimates of world reserves can be found in the Oil and Gas Journal, a primary source for world reserves. A 50 year "well dry" theory has been around since the 1970's.
Since estimates continue to change due to new discoveries and advanced retrieval technologies the real question should be: When will it no longer be economically feasible to retrieve the world's known oil and gas reserves? Most experts say that we will run out of ways to economically get the go juice before we run out of it. Here are a few paragraphs from the journal:
"The countries with the largest amounts of remaining oil reserves are: Saudi Arabia, Canada, Iraq, United Arab Emirates, Kuwait, Iran, Venezuela, Russia, Libya, and Nigeria.[1] The largest reserves of natural gas are found in: Russia, Iran, Qatar, Saudi Arabia, United Arab Emirates, United States, Algeria, Venezuela, Nigeria, and Iraq."
"Discovered (or known) resources can be divided into proved reserves and prospective or unproved (probable and possible) resources. “Proved reserves” are the quantities of oil or gas from known reservoirs and expected to be recoverable with current technology and at current economic conditions. Prospective resources are those that may be recoverable in the future with advanced technologies or under different economic conditions."
"No one can know for certain how much oil and gas remains to be discovered. But geologists sometimes make educated guesses. For example, the U.S. Geological Survey (USGS) conducts periodic assessments of U.S. mineral resources. In its most recent assessment (1995), the USGS estimated that the onshore U.S., including Alaska, has undiscovered, technically recoverable resources of 112.3 billion barrels of oil and 1,074 trillion cubic feet of natural gas. In a separate assessment of offshore resources completed in 2000, the U.S. Minerals Management Service (MMS) estimated that 75 billion barrels of oil and 362 trillion cubic feet of natural gas underlie the areas off the coasts of the U.S. The USGS and MMS resource assessments make clear that, despite being a very mature producing area, substantial resources still exist in the U.S. No comparable worldwide assessment exists, but this estimate gives an indication that substantial volumes of oil and gas remain to be found."
To answer your question: 'What will happen when fossil fuels are no longer available?' "Planet of the apes baby..."
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