watchingfromafar
Gold Member
- Aug 6, 2017
- 5,445
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Is this the beginning of the end or end of the beginning?
The largest economic change is fast approaching our global civilization. This will mark the first global challenge we have ever faced, and it will be an uphill battle from the start to the end.
It could end with a massive nuclear exchange that will drive humanity back to near global extinction while we stick our heads in the sand waiting for the winds to slow.
The truth will set us free if and only is we can recognize the truth when we see it.
Below is what I have found. You can do the math
Globally, crude's reserves-to-production ratio has hovered between 40-55 years. The 1P estimate is an estimate of proven reserves, what is likely to be extracted from a well, 90% probability. Probable reserves are given 50% certainty (2P) and possible reserves a 10% certainty (3P).
tinyurl.com
Overall, global supply fell by 720,000 barrels per day in August, .2017
our forecast horizon we will be in a 104 mb/d market and the call on OPEC crude and stock change rises from 32.2 mb/d in 2016 to 35.8 mb/d in 2022. With the group forecast to add 1.95 mb/d to production capacity in this period, this implies that available spare production capacity will fall below 2 mb/d.
Oil is a resource… it will run out
For decades now, the topic of when our oil will run out has been the focus of analysts and industry experts. The concern is real. Oil is a resource and will eventually be depleted. Once we discover and process all sources, there’s nothing else. It’s only a question of time.
Oil still remains the largest source of primary energy worldwide. According to the U.S. Energy Information Administration, the global supply of oil, bio-fuel and liquid hydrocarbons are still enough to meet the global demand for liquid fuels for another 25 years. The oil is all sucked up and burned within 47 years.
Here’s the latest report on Oil Consumption and Demand.
1. The world oil consumption per day is 91.7 million barrels as of May 2014.
2. The U.S. is the largest oil consumer in the world, using up 18.83 million barrels a day.
3. China uses 10% of the world’s oil. It is expected to overtake the U.S. as the largest oil consumer.
4. The global oil demand is expected to increase by 1.3 million barrels a day by late 2014.
www.theworldcounts.com
North Sea is running too dry to meet target
Wednesday July 4, 2007
environment.guardian.co.uk
The real casus belli: peak oil
Tuesday June 26, 2007
tinyurl.com
Science Panel Finds Fault With Estimates of Coal Supply
Published: June 21, 2007 Science Panel Finds Fault With Estimates of Coal Supply (Published 2007)
Chevron announces that they now have 11.8 years of oil left at current production levels after acquiring Unocal reserves
07/08/05
tinyurl.com
An Oil Enigma: Production Falls Even as Reserves Rise
Published: June 12, 2004
www.nytimes.com
"The decline of oil and gas will affect the world population more than climate change"
In January 2001, the U.S.
Department of Energy estimated the world's supply of unexploited oil reserves the world supply of oil will be totally exhausted 35 years from now (June 2003).
members.aol.com
World oil and gas 'running out'
Thursday, October 2, 2003 Posted: 1245 GMT ( 8:45 PM HKT)
The Oil Crunch
Published: May 7, 2004
The question, instead, is when the trend in oil prices will turn decisively upward. That upward turn is inevitable as a growing world economy confronts a resource in limited supply. But when will it happen? Maybe it already has.
www.nytimes.com
Natural gas markets undergo turbulent transition as domestic production declines
Tuesday, December 16, 2003
"Texas' oil resource is pretty well picked over,"
Oman's Oil Yield Long in Decline, Shell Data Show
Published: April 8, 2004
www.nytimes.com
Half of Texas’s oil wells have dried up in the past 40 years and there are very few new ones.
Tight Oil Supply Won't Ease Soon
Published: May 16, 2004
Two dollars for a gallon of gas? Get used to it. High fuel prices are here to stay, at least for the near future, because no relief is in sight for tight oil supplies.
tinyurl.com
The end of the Fossil Fuel era is upon us so what are we going to do next-?
-------
I think it is time for us to look around at other countries who see the end of oil around the corner----------------
China is the world's leading country in electricity production from renewable energy sources, with over double the generation of the second-ranking country, the United States.[citation needed] In 2013 the country had a total capacity of 378 GW of renewable power, mainly from hydroelectric and wind power. China's renewable energy sector is growing faster than its fossil fuels and nuclear power capacity.
Although China currently has the world's largest installed capacity of hydro, solar and wind power, its energy needs are so large that in 2013 renewables provided just a little over 20% of its power generation, with most of the remainder provided by traditional coal power facilities. Nevertheless, the share of renewable sources in the energy mix had been gradually rising from 2013.
China sees renewables as a source of energy security and not just only to reduce carbon emission. China’s Action Plan for the Prevention and Control of Air Pollution issued by China’s State Council in September 2013, illustrates the government's desire to increase the share of renewables in China’s energy mix.[3] Unlike oil, coal and gas, the supplies of which are finite and subject to geopolitical tensions, renewable energy systems can be built and used wherever there is sufficient water, wind, and sun.[4]
As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Innovation has helped, but the main driver of reduced costs has been market expansion.[4] In 2015 China became the world's largest producer of photovoltaic power, with 43 GW of total installed capacity.[5][6] From 2005 to 2014, production of solar cells in China has expanded 100-fold.[4]
At the mid-Atlantic ridge the seawater lava is a liquid at temperatures of 1,200 °C (1,292 to 2,192 °F). And yet it does not flash into steam because of the great pressure it is under.
If we drop a tube down to the superhot seawater and start sucking it up it will expand as the pressure becomes less until it turns into steam with no place to go but up. The steam can then be used to turn turbines creating all the electrical energy the human race will ever need.
China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars.
China's industry ministry is developing a timetable to end production and sale of traditional fuel cars and will promote development of electric technology, state media on Sunday cited a Cabinet official as saying.
France and Britain announced in July they will stop sales of gasoline and diesel automobiles by 2040 as part of efforts to reduce pollution and carbon emissions that contribute to global warming. Communist leaders also want to curb China's growing appetite for imported oil and see electric cars as a promising industry in which their country can take an early lead.
China passed the United States last year as the biggest electric car market. Sales of electrics and gasoline-electric hybrids rose 50 percent over 2015 to 336,000 vehicles, or 40 percent of global demand. U.S. sales totaled 159,620.
https://tinyurl.com/ycsg6xb6
Our President needs to address taxpayer and tell them the truth. Americans need to be told the truth. For Americans to continue to flourish we need a comprehensive transition plan that converts our energy baser away from fossil fuels to renewables; A.S.A.P.
-
The largest economic change is fast approaching our global civilization. This will mark the first global challenge we have ever faced, and it will be an uphill battle from the start to the end.
It could end with a massive nuclear exchange that will drive humanity back to near global extinction while we stick our heads in the sand waiting for the winds to slow.
The truth will set us free if and only is we can recognize the truth when we see it.
Below is what I have found. You can do the math
Globally, crude's reserves-to-production ratio has hovered between 40-55 years. The 1P estimate is an estimate of proven reserves, what is likely to be extracted from a well, 90% probability. Probable reserves are given 50% certainty (2P) and possible reserves a 10% certainty (3P).
How Much Oil Does the World Have Left?
The short answer to the question posed is....a lot. Or at least way more than many groups and people out there want you to believe. Today, the world is swimming in oil, and prices have been sliced in half over the past year. “Peak oil” theory for production is predicated [...]
tinyurl.com
Overall, global supply fell by 720,000 barrels per day in August, .2017
our forecast horizon we will be in a 104 mb/d market and the call on OPEC crude and stock change rises from 32.2 mb/d in 2016 to 35.8 mb/d in 2022. With the group forecast to add 1.95 mb/d to production capacity in this period, this implies that available spare production capacity will fall below 2 mb/d.
Oil is a resource… it will run out
For decades now, the topic of when our oil will run out has been the focus of analysts and industry experts. The concern is real. Oil is a resource and will eventually be depleted. Once we discover and process all sources, there’s nothing else. It’s only a question of time.
Oil still remains the largest source of primary energy worldwide. According to the U.S. Energy Information Administration, the global supply of oil, bio-fuel and liquid hydrocarbons are still enough to meet the global demand for liquid fuels for another 25 years. The oil is all sucked up and burned within 47 years.
Here’s the latest report on Oil Consumption and Demand.
1. The world oil consumption per day is 91.7 million barrels as of May 2014.
2. The U.S. is the largest oil consumer in the world, using up 18.83 million barrels a day.
3. China uses 10% of the world’s oil. It is expected to overtake the U.S. as the largest oil consumer.
4. The global oil demand is expected to increase by 1.3 million barrels a day by late 2014.
The World Counts
North Sea is running too dry to meet target
Wednesday July 4, 2007
North Sea is running too dry to meet target
· Oil and gas production will slip further, report says · Rising costs and tax increases squeeze output
environment.guardian.co.uk
The real casus belli: peak oil
Tuesday June 26, 2007
David Strahan: The real casus belli: peak oil
David Strahan: In a world of looming fuel shortage, Britain and the US formalised their energy fears with a war.
tinyurl.com
Science Panel Finds Fault With Estimates of Coal Supply
Published: June 21, 2007 Science Panel Finds Fault With Estimates of Coal Supply (Published 2007)
Chevron announces that they now have 11.8 years of oil left at current production levels after acquiring Unocal reserves
07/08/05
Foiled Bid Stirs Worry for U.S. Oil (Published 2005)
Oil companies face whether they might suffer political retribution in their dealings with foreign governments in wake of political lobbying in Washington that scuttled China's Cnooc from acquiring Unocal; fate of Unocal is finally settled when majority of company's shareholders approve takeover...
An Oil Enigma: Production Falls Even as Reserves Rise
Published: June 12, 2004
An Oil Enigma: Production Falls Even as Reserves Rise (Published 2004)
Chevron Texaco says its proven oil and natural gas reserves have risen 14 percent, over one billion barrels, in last six years, but its annual output during that time has fallen by almost 15 percent; Chevron Texaco is not only big oil company whose production is falling despite rising reserves...
"The decline of oil and gas will affect the world population more than climate change"
In January 2001, the U.S.
Department of Energy estimated the world's supply of unexploited oil reserves the world supply of oil will be totally exhausted 35 years from now (June 2003).
News, Politics, Sports, Mail & Latest Headlines
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
members.aol.com
World oil and gas 'running out'
Thursday, October 2, 2003 Posted: 1245 GMT ( 8:45 PM HKT)
The Oil Crunch
Published: May 7, 2004
The question, instead, is when the trend in oil prices will turn decisively upward. That upward turn is inevitable as a growing world economy confronts a resource in limited supply. But when will it happen? Maybe it already has.
Opinion | The Oil Crunch (Published 2004)
Paul Krugman Op-Ed column says oil is getting more expensive not only because of war in Iraq but also because of intensifying competition for limited world oil supply, with biggest increases in demand coming from booming developing countries like China; says no major oil fields have been found...
Natural gas markets undergo turbulent transition as domestic production declines
Tuesday, December 16, 2003
"Texas' oil resource is pretty well picked over,"
Oman's Oil Yield Long in Decline, Shell Data Show
Published: April 8, 2004
OMAN'S OIL YIELD LONG IN DECLINE, SHELL DATA SHOW (Published 2004)
Royal Dutch/Shell Group's oil production in Oman has been declining for years, belying company's optimistic reports and raising doubts about whether new technology can extend life of huge but mature oil fields in Middle East; internal Shell documents suggest that figure for proven oil reserves...
Half of Texas’s oil wells have dried up in the past 40 years and there are very few new ones.
Tight Oil Supply Won't Ease Soon
Published: May 16, 2004
Two dollars for a gallon of gas? Get used to it. High fuel prices are here to stay, at least for the near future, because no relief is in sight for tight oil supplies.
TIGHT OIL SUPPLY WON'T EASE SOON (Published 2004)
Gas prices are likely to remain high because no relief is in sight for tight oil supplies; most countries and major companies are producing all they can, smaller companies and wildcatters do not have enough wells to re-open and Saudi Arabia's extra oil is too heavy in sulfur for main consuming...
The end of the Fossil Fuel era is upon us so what are we going to do next-?
-------
I think it is time for us to look around at other countries who see the end of oil around the corner----------------
China is the world's leading country in electricity production from renewable energy sources, with over double the generation of the second-ranking country, the United States.[citation needed] In 2013 the country had a total capacity of 378 GW of renewable power, mainly from hydroelectric and wind power. China's renewable energy sector is growing faster than its fossil fuels and nuclear power capacity.
Although China currently has the world's largest installed capacity of hydro, solar and wind power, its energy needs are so large that in 2013 renewables provided just a little over 20% of its power generation, with most of the remainder provided by traditional coal power facilities. Nevertheless, the share of renewable sources in the energy mix had been gradually rising from 2013.
China sees renewables as a source of energy security and not just only to reduce carbon emission. China’s Action Plan for the Prevention and Control of Air Pollution issued by China’s State Council in September 2013, illustrates the government's desire to increase the share of renewables in China’s energy mix.[3] Unlike oil, coal and gas, the supplies of which are finite and subject to geopolitical tensions, renewable energy systems can be built and used wherever there is sufficient water, wind, and sun.[4]
As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Innovation has helped, but the main driver of reduced costs has been market expansion.[4] In 2015 China became the world's largest producer of photovoltaic power, with 43 GW of total installed capacity.[5][6] From 2005 to 2014, production of solar cells in China has expanded 100-fold.[4]
At the mid-Atlantic ridge the seawater lava is a liquid at temperatures of 1,200 °C (1,292 to 2,192 °F). And yet it does not flash into steam because of the great pressure it is under.
If we drop a tube down to the superhot seawater and start sucking it up it will expand as the pressure becomes less until it turns into steam with no place to go but up. The steam can then be used to turn turbines creating all the electrical energy the human race will ever need.
China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars.
China's industry ministry is developing a timetable to end production and sale of traditional fuel cars and will promote development of electric technology, state media on Sunday cited a Cabinet official as saying.
France and Britain announced in July they will stop sales of gasoline and diesel automobiles by 2040 as part of efforts to reduce pollution and carbon emissions that contribute to global warming. Communist leaders also want to curb China's growing appetite for imported oil and see electric cars as a promising industry in which their country can take an early lead.
China passed the United States last year as the biggest electric car market. Sales of electrics and gasoline-electric hybrids rose 50 percent over 2015 to 336,000 vehicles, or 40 percent of global demand. U.S. sales totaled 159,620.
https://tinyurl.com/ycsg6xb6
Our President needs to address taxpayer and tell them the truth. Americans need to be told the truth. For Americans to continue to flourish we need a comprehensive transition plan that converts our energy baser away from fossil fuels to renewables; A.S.A.P.
This could make a great talking point and discussion platform for future public debates to inform the public on what actions are being taken and what we can do to help guide us through this transition in a peaceful transition Or WWIII-?
Please speak your mind, any thoughts on this subject--?
Please speak your mind, any thoughts on this subject--?
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