"Pindell, Tim" <TPindell@otterbein.edu> wrote:
: No problem. I was trying to illustrate that even if we did away with
: all of our regulatory paperwork surrounding the exploitation of our own
: oil, we just wouldn't have much of it given our rate of consumption.
: Unfortunately, the great majority of North America's oil is under
: someone else's dirt.
That's if you trust/believe to be compentent the people who come
up with these estimates of course. Not only are new technology and
new methods making previously unobtainable oil available, but there
are existing wells which have had steadily dropping production rates
and capacity estimates that are ramping up to higher production and
capacity estimates than ever before. Essentially, there is "new oil"
coming into these already "tapped out" fields. Most recently, this
has happened in the Gulf area.
The science of determining the oil reserves in a particular
location seem to be FAR from exact in the first place, then throw in
this "new oil" phenomenon which nobody seems to be able to account
for and I think all of the oil supply figures we've ever seen have
been wild guesstimates, at best. Heck, the "known oil supply" in
the middle east alone has been escalating ever since oil was
discovered there! Some people are actually theorizing that rather
than oil being a non-renewable resource, the earth is actually
producing it at a rate that may equal or exceed man's requirements
of it.
That's not to say that the middle east doesn't have more oil
than the US, I just don't think its possible for us to determine
exactly how much oil there is in a particular location and thus
how long it might last. I wouldn't put much stock at all in
anybody who purports to be able to determine world oil reserves.
--
-Jon-
.- Jon Steiger --- jon@dakota-truck.net or jon@jonsteiger.com -.
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