Oil discoveries dispel "Peak Oil" as myth

[watchingfromafar]

Total global oil reserves are estimated at 2,092 billion barrels, or 70 times the current production rate of about 30 billion barrels of oil a year. For comparison, cumulatively produced oil through 2015 amounted to 1,300 billion barrels.
U.S. Holds Most Recoverable Oil Reserves

BP's annual report on proved global oil reserves says that as of the end of 2013, Earth has nearly 1.688 trillion barrels of crude, which will last 53.3 years at current rates of extraction. This figure is 1.1 percent higher than that of the previous year.14 Jul 2014

The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.
How long will world's oil reserves last? 53 years, says BP

How much oil is left in the world?

The world has 53.3 years of oil left at the current rate of production, according to BP's annual statistical review of world energy. Just 53 years! From the report: Total world proved oil reserves reached 1687.9 billion barrels at the end of 2013, sufficient to meet 53.3 years of global production.Jul 9, 2014
https://jalopnik.com/bp-says-the-world-only-has-53-years-of-oil-left-should-1602354842

New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
Login

In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic


1,651,000,000,000/315360000000000000=19 years left

My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.

If the numbers are correct, we need to act now before it is too late !!

 

[RGR]

New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
Login

In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic


1,651,000,000,000/315360000000000000=19 years left

My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.

If the numbers are correct, we need to act now before it is too late !!

86.4 million per day is 31.536 billion per year. 1651 billions / 31.536 billions is 52.3 years. Maybe you missed some 0's somewhere?

 

[westwall]

Total global oil reserves are estimated at 2,092 billion barrels, or 70 times the current production rate of about 30 billion barrels of oil a year. For comparison, cumulatively produced oil through 2015 amounted to 1,300 billion barrels.
U.S. Holds Most Recoverable Oil Reserves

BP's annual report on proved global oil reserves says that as of the end of 2013, Earth has nearly 1.688 trillion barrels of crude, which will last 53.3 years at current rates of extraction. This figure is 1.1 percent higher than that of the previous year.14 Jul 2014

The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.
How long will world's oil reserves last? 53 years, says BP

How much oil is left in the world?

The world has 53.3 years of oil left at the current rate of production, according to BP's annual statistical review of world energy. Just 53 years! From the report: Total world proved oil reserves reached 1687.9 billion barrels at the end of 2013, sufficient to meet 53.3 years of global production.Jul 9, 2014
https://jalopnik.com/bp-says-the-world-only-has-53-years-of-oil-left-should-1602354842

New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
Login

In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic


1,651,000,000,000/315360000000000000=19 years left

My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.

If the numbers are correct, we need to act now before it is too late !!

Hmmm, this makes what the seventh time we are "DOOMED, DOOMED I TELL YA!" to run out of oil in mere years. Here's a hint, when the need arises, a solution will be found. It always has.

 

[Toddsterpatriot]

Total global oil reserves are estimated at 2,092 billion barrels, or 70 times the current production rate of about 30 billion barrels of oil a year. For comparison, cumulatively produced oil through 2015 amounted to 1,300 billion barrels.
U.S. Holds Most Recoverable Oil Reserves

BP's annual report on proved global oil reserves says that as of the end of 2013, Earth has nearly 1.688 trillion barrels of crude, which will last 53.3 years at current rates of extraction. This figure is 1.1 percent higher than that of the previous year.14 Jul 2014

The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.
How long will world's oil reserves last? 53 years, says BP

How much oil is left in the world?

The world has 53.3 years of oil left at the current rate of production, according to BP's annual statistical review of world energy. Just 53 years! From the report: Total world proved oil reserves reached 1687.9 billion barrels at the end of 2013, sufficient to meet 53.3 years of global production.Jul 9, 2014
https://jalopnik.com/bp-says-the-world-only-has-53-years-of-oil-left-should-1602354842

New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
Login

In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic


1,651,000,000,000/315360000000000000=19 years left

My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.

If the numbers are correct, we need to act now before it is too late !!

Hmmm, this makes what the seventh time we are "DOOMED, DOOMED I TELL YA!" to run out of oil in mere years. Here's a hint, when the need arises, a solution will be found. It always has.

Whale oil!!!

 

[KissMy]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

 

[bripat9643]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

 

[KissMy]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

2 million loads of sand every year for 1 basin!!! A bunch more for water, drilling equipment, pumps, casings, cement, etc.

 

[bripat9643]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

 

[Moonglow]

We are finding new oil reserves every year, maybe not the USA but other countries. Brazil is extremely active and in the last couple years they have become Oil independent. Soon if not today they hope to be an exporter of petroleum.

Seems like professor's and scientist's theories are proven wrong, what is theory of Peak Oil in light of recent petroleum discoveries.

OilVoice | Petrobras Announces Discovery of Light Oil to the South of Santos Basin

Petróleo Brasileiro S.A. - Petrobras announces that it has confirmed the presence of light oil in well 1-BRSA-870-SPS (1-SPS-76), located to the south of Santos Basin, in sandstones reservoirs, similar to those found in the accumulations of Tiro and Sidon. The discovery is located around 15 km of the Tiro and Sidon area.

This discovery confirms the success of the exploratory strategy in the search for the formation of a new production hub in the southeastern part of Santos Basin which may be integrated by a series of already discovered fields, such as Caravela, Cavalo Marinho, Coral and Tiro-Sidon, as well as others to be discovered or in evaluation process, such as that of well 1-BRSA-870-SPS in the Marujá prospect.

Not hard to prove a theory from the 1970's wrong with better equipment to locate formations..

 

[Moonglow]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

 

[Moonglow]

Jiggs Casey lecture in 3... 2... 1....

Hello Mr.H. what's up?

 

[bripat9643]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

Producing methanol consumes almost as much energy as is contained in the fuel. I also doubt whether Alcohol engines are as efficient as diesel engines.

 

[westwall]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

 

[westwall]

Jiggs Casey lecture in 3... 2... 1....

Hello Mr.H. what's up?

Mr. H has sadly not posted in a very long while. I fear that he has left us.

 

[Moonglow]

Jiggs Casey lecture in 3... 2... 1....

Hello Mr.H. what's up?

Mr. H has sadly not posted in a very long while. I fear that he has left us.

I know..

 

[Moonglow]

Most of the oil we produce goes right back into producing oil. The EROEI for Oil keeps falling! The Permian will be utilizing over 2 million truckloads to deliver fracking sand, or nearly 50% of Walmart’s supply chain: Plus over 1.5 gallons of fresh water to pump out each gallon of oil.

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

Alcohol is a superior fuel for spark ignition internal combustion but only if the engine is optimized to run on pure alcohol. I probably should have clarified what type of engines.

 

[westwall]

Utter horseshit. Oil has the lowest EROEI of any energy source.

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

Alcohol is a superior fuel for spark ignition internal combustion but only if the engine is optimized to run on pure alcohol. I probably should have clarified what type of engines.

I know what you were talking about, but the fact remains that producing alcohol requires the expenditure of shitloads of oil. Which means the net result is less efficiency.

 

[Wyatt earp]

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

Alcohol is a superior fuel for spark ignition internal combustion but only if the engine is optimized to run on pure alcohol. I probably should have clarified what type of engines.

I know what you were talking about, but the fact remains that producing alcohol requires the expenditure of shitloads of oil. Which means the net result is less efficiency.

It burns up pistons..I know my dad and I used to race these boats..






.

 

[Rigby5]

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

Alcohol is a superior fuel for spark ignition internal combustion but only if the engine is optimized to run on pure alcohol. I probably should have clarified what type of engines.

I know what you were talking about, but the fact remains that producing alcohol requires the expenditure of shitloads of oil. Which means the net result is less efficiency.

It is only when one makes alcohol from corn that it has such high energy and water consumption problems. If you use sugar cane, sugar beets, or algae, then it becomes far more efficient.
But ultimately alcohol does have lower energy content than bio diesel, so I like bio diesel better.
All you have to do is cold press seeds or pods like palm oil.
You can even run a diesel on chicken fat.

 

[Moonglow]

You are an IDIOT!!! Low EROEI is very, very BAD!!!

Whatever. producing oil consumes the lowest percentage of the end product. Ethanol is probably the worst of the fuels that burn. It may even be negative.

Alcohol burning engines are more fuel efficient than gasoline and diesel burning engines.

The problem being the production of the alcohol. Very oil intensive and in the long run you expend more oil then you save. As a cost comparison regular Jet fuel is 5.21 a gallon as of Monday when i bought some. Bio Jet fuel on the other hand is around three bucks more a gallon. And that is a blend, if you use pure bio jetfuel it runs 26 bucks a gallon. Feel free to show me where the savings are.

Alcohol is a superior fuel for spark ignition internal combustion but only if the engine is optimized to run on pure alcohol. I probably should have clarified what type of engines.

I know what you were talking about, but the fact remains that producing alcohol requires the expenditure of shitloads of oil. Which means the net result is less efficiency.

How much energy is used to create hemp oil?