Contrary to what we are told...Oil Isn't Running Out!

[2011G6E]

It probably annoys the hell out of greenies, but there are those of us older than five minutes of age who have memories dating well back into the seventies or beyond.
I remember in Grade 10 in 1980 doing school projects about "motoring in the 21st century" just beyond the year 2000. We honestly thought there'd be no oil left and, as the main character said in the magnificent movie "Running On Empty" when asked why he liked modifying cars, "we'd be running around in electric wheelchairs" after 2000.

Even a book I have, "Torque" by Peter Wherrett, has a section on motoring in the future, and he thought that oil would be pretty much gone by shortly after 2000.

Cars are instead more powerful than ever, and more efficient than ever.

[Trump]

Umm, not sure if anyone here has read up on how the oil is extracted from oil shale...

http://en.wikipedia.org/wiki/Oil_shale

[ute83]

Originally Posted by Luke Plaizier

With all the talk of water on Mars, the recent landing of Curiosity, and the possibility of past life, I wonder where all that life has gone? How far from reality is the idea that Mars may have an untapped supply of crude oil?


Lukeyson

Canberra i think.

[jpd80]

Originally Posted by 2011G6E

It probably annoys the hell out of greenies, but there are those of us older than five minutes of age who have memories dating well back into the seventies or beyond.
I remember in Grade 10 in 1980 doing school projects about "motoring in the 21st century" just beyond the year 2000. We honestly thought there'd be no oil left and, as the main character said in the magnificent movie "Running On Empty" when asked why he liked modifying cars, "we'd be running around in electric wheelchairs" after 2000.

Even a book I have, "Torque" by Peter Wherrett, has a section on motoring in the future, and he thought that oil would be pretty much gone by shortly after 2000.

Cars are instead more powerful than ever, and more efficient than ever.

Four things happened:
1) as the priceof fuel went up, sthe cost of recovering more expensive oil became more viable

2) the price of oil is dependant on demand in boom and recessions

3) Speculation of oil pricing contracts causes an inflationary and exaggerated jump in the price.

4) The Saudi are being very cagey about their reserves because they may or may not have that much left - see points 2 & 3.

[BLUEYBA]

Originally Posted by Peter B - CV8

It takes thousands of years for oil to form and, as others have said, we have to pumping out a greater volume that what is being replaced - especially with increased consumer demand from the likes of China & India, where many more of the general populace is now a car owner/fuel user.
It will have to run out one day.....

But the problem is the ones who are saying its going to run out don't know when. There's no use saying something when you don't know yourself.

[Peter B - CV8]

Originally Posted by BLUEYBA

But the problem is the ones who are saying its going to run out don't know when. There's no use saying something when you don't know yourself.

It's all really hypothetical then isn't it ??? Because no-one has the exact figures or information.
I guess the point I was trying to make, was that there is a quickly growing market for fuel in countries where historically the general population haven't had the $$$ to own a car.

[mik]

we will never run out of oil, it will gradually become more expensive to pump out for the greater world population and become unpalatable, people over a period of time will just adapt to something else, but internal combustion engines are very versatile, i`m confident when the time comes that it becomes too costly they will find/use something else to fuel them.

[aussie muscle]

Originally Posted by aussie muscle

it wouldn't be the first time the oil industry ran out of it's supply of oil. Whale Oil was used in vast quantities until the whales started running out..

i forgot to link
http://io9.com/5930414/1846-the-year...perm-whale-oil

Energy experts predict that the global production of oil will soon start to decline, what's referred to as peak oil. Now while we may not be there yet, there was a time in our history when we did reach a similar plateau, but it was a very different kind of energy source — one that could only be extracted from the heads of sperm whales.

It was the intense demand for this sperm whale oil, what's called spermaceti, during the 18th and 19th centuries that nearly drove the whales into extinction. And it was only through the development of a rather modest technological innovation that the whales were saved at the last minute.

[BLUEYBA]

Originally Posted by Peter B - CV8

It's all really hypothetical then isn't it ??? Because no-one has the exact figures or information.
I guess the point I was trying to make, was that there is a quickly growing market for fuel in countries where historically the general population haven't had the $$$ to own a car.

Fair enough.
What gets to me the most isthat no one really knows accurately how much there is or isn't yet they come out and say things as fact. There are alot of area when they have not explored but because we the people either don't have the info or are told lies by governments and others to push policies and causes.
When you think about we haven't been using oil for that long and records have not been kept for that long either so they are making assumption on very limited information. Do they know how much oil there really is?

[midnightXR6]

I work offshore on the well side. The amount of new oil discoveries is almost weekly.

Australia would be a major player in oil richness but the barrier reef has put a stop to that with the destruction that could happen if it all went tits up there

[bobthebilda]

Originally Posted by midnightXR6

I work offshore on the well side. The amount of new oil discoveries is almost weekly.

Australia would be a major player in oil richness but the barrier reef has put a stop to that with the destruction that could happen if it all went tits up there

No one doubts new discoveries are happening all the time. But the fact is if 80 million barrels aint discovered everday, then what we do know we have, is getting less and less. Australias current reserves are less than 4 billion barrels. Approx. 10 years of supply (if no imports). Hardly an abundance.