In the 1970s we were told we were running out of oil, and the 1980s, 1990s now its 2015 and there's at least 20-30% more oil on the market than can be used. 100s of millions of barrels of oil sitting in tankers off shore in dozens of countries. Because of the worldwide recession/depression and the CO2 Global Warming Myth hydrocarbon use is declining all around the world . And this will only accelerate as alternatives to oil and coal develop.
The price has crashed at the moment because of several reasons, the Saudis want to get rid of US/CAnd shale oil and they also want to put pressure on Russia and alternatives to oil. But that will not last and prices will go up again very soon .
Do you honestly think that one day in the future all the oil wells (100s of thousands ) all around the world will suddenly go dry and there will be no more oil? That is ridiculous! World oil production will not follow a bell curve, there will be a very slow decline in production commensurate with an increase in price till probably at least 2100 +- 30? . Some where in that period oil will become irrelevant.
EIA administrator Adam Sieminski points out a crucial issue in what makes oil available — its cost. When the price of oil reaches a certain point, it becomes profitable to drill in areas and in ways that would not be profitable if oil were too cheap.
The final word on peak oil may belong to petroleum geologist Colin Campbell, a founder of the Association for the Study of Peak Oil (ASPO), who was among the first to foresee its arrival: "The Stone Age did not end because we ran out of stone, but because bronze and iron proved to be better substitutes," he wrote in 2001. "Firewood gave way to coal; and coal to oil and gas, not because they ran out or went into short supply but because the substitutes were cheaper and more efficient.substitute."
The world will never run out of oil! That is a myth. What will happen is the price of oil and all hydrocarbons will increase until the tipping point is reached where alternatives are cheaper than oil.
Also there is still a lot of oil undiscovered especially in deep water< 5000meters once that technology has been mastered another 5 Trillion barrels will become available
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Will You Be Alive When We Run Out Of Oil?
In the 1970s we were told we were running out of oil, and the 1980s, 1990s now its 2015 and there's at least 20-30% more oil on the market than can be used. 100s of millions of barrels of oil sitting in tankers off shore in dozens of countries. Because of the worldwide recession/depression and the CO2 Global Warming Myth hydrocarbon use is declining all around the world . And this will only accelerate as alternatives to oil and coal develop.
The price has crashed at the moment because of several reasons, the Saudis want to get rid of US/CAnd shale oil and they also want to put pressure on Russia and alternatives to oil. But that will not last and prices will go up again very soon .
Do you honestly think that one day in the future all the oil wells (100s of thousands ) all around the world will suddenly go dry and there will be no more oil? That is ridiculous! World oil production will not follow a bell curve, there will be a very slow decline in production commensurate with an increase in price till probably at least 2100 +- 30? . Some where in that period oil will become irrelevant.
EIA administrator Adam Sieminski points out a crucial issue in what makes oil available — its cost. When the price of oil reaches a certain point, it becomes profitable to drill in areas and in ways that would not be profitable if oil were too cheap.
www.9news.com/.../13849651/
The final word on peak oil may belong to petroleum geologist Colin Campbell, a founder of the Association for the Study of Peak Oil (ASPO), who was among the first to foresee its arrival: "The Stone Age did not end because we ran out of stone, but because bronze and iron proved to be better substitutes," he wrote in 2001. "Firewood gave way to coal; and coal to oil and gas, not because they ran out or went into short supply but because the substitutes were cheaper and more efficient.substitute."
Will You Be Alive When We Run Out Of Oil?
The world will never run out of oil! That is a myth. What will happen is the price of oil and all hydrocarbons will increase until the tipping point is reached where alternatives are cheaper than oil.
Also there is still a lot of oil undiscovered especially in deep water< 5000meters once that technology has been mastered another 5 Trillion barrels will become available