From Cambridge Energy Research Associates
http://www.cera.com/aspx/cda/public1/news/pressReleases/pressReleaseDetails.aspx?CID=8444
http://www.cera.com/aspx/cda/public1/news/pressReleases/pressReleaseDetails.aspx?CID=8444
I quit making money on oil and am now making money on alternatives. Did that after my consumption of fuel wasn't being paid for by my investments in oil companies.Suits my purposes. :lol:
Grow up BitWhys. You're the one with the political chip on your shoulder.
I couldn't care less. I'll make money on it one way or another.
I quit making money on oil and am now making money on alternatives. Did that after my consumption of fuel wasn't being paid for by my investments in oil companies.
Suits my purposes. :lol:
Grow up BitWhys. You're the one with the political chip on your shoulder.
...
right
you link to an article that confirms Saudi Arabia is only good for 50 years on known reserves like it proves something to the contrary and I'm the one that's supposed to grow up.
what part of " Proved reserves are estimated quantities that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions." do you not understand?
http://en.wikipedia.org/wiki/Athabasca_Oil_SandsAlberta Government calculates that about 28 billion cubic metres (174 billion barrels) of crude bitumen are economically recoverable from the three Alberta oil sands areas at current prices using current technology. This is equivalent to about 10% of the estimated 1,700 and 2,500 billion barrels of bitumen in place.
http://www.cera.com/aspx/cda/public1/news/pressReleases/pressReleaseDetails.aspx?CID=8444“This is the fifth time that the world is said to be running out of oil,” says CERA Chairman Daniel Yergin. “Each time -- whether it was the ‘gasoline famine’ at the end of WWI or the ‘permanent shortage’ of the 1970s -- technology and the opening of new frontier areas has banished the specter of decline. There’s no reason to think that technology is finished this time.”
http://en.wikipedia.org/wiki/Orinoco_Beltestimated that the Orinoco Belt has 236 billion barrels of heavy crude, which would make it the largest petroleum reserve in the world.
http://rand.org/pubs/monographs/2005/RAND_MG414.pdfThe largest known oil shale deposits in the world are in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming...For potentially recoverable oil shale resources, we roughly derive an upper bound of 1.1 trillion barrels of oil and a lower bound of about 500 billion barrels...the midpoint in our estimate range, 800 billion barrels, is more than triple the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day.
what's so political about pointing out that you're cherry-picking?
please. I'm supposed to prefer the information from some trade rag that suits your purposes over that of the EIA?
OK i admit it. I know nothing.
But i guarantee it's not as simple as supply and demand. If there's a way they can get more money out of you they'll do it
...What, pray tell, are my "purposes"?
If I were to hazard a guess, I'd say that right now it would be to prove that you know better than BP, Penwell and Gulf combined. Either that or simply putting a lot of effort into missing the point.