poppet2 Posted January 5, 2012 Share Posted January 5, 2012 We should refrain from using our coal reserves until the oil starts to run out, then it'll be a lot more valuable as a commodity. There have been numerous reports that oil will run out within 50 years. Link to comment Share on other sites More sharing options...
MrSmith Posted January 5, 2012 Share Posted January 5, 2012 There have been numerous reports that oil will run out within 50 years. But they can now make it in Spain and will be producing all their needs within ten years at a cost lower than getting it out of the ground. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted January 5, 2012 Share Posted January 5, 2012 There have been numerous reports that oil will run out within 50 years. It'll last for a good while longer than 50 years. It is estimated that the time when the energy crisis will start is when we've used around 50% of the oil, that phenomenon is called Peak oil. Link to comment Share on other sites More sharing options...
paulo n Posted January 5, 2012 Share Posted January 5, 2012 germany used fisher-tropse (probabley spelled wrong) process to make oil from coal in ww2.so we might use it when we realize the energy companies have had our trousers down! Link to comment Share on other sites More sharing options...
theripsaw Posted January 5, 2012 Share Posted January 5, 2012 Along with shale gas it comes under the category of 'unconventional gas' and both are already huge in the USA. Our energy bills will be reduced enormously if we also use these. Our energy bills will never ever ever ever be reduced. Some private company will just make ever bigger profits Link to comment Share on other sites More sharing options...
alchresearch Posted January 5, 2012 Share Posted January 5, 2012 There have been numerous reports that oil will run out within 50 years. When I was at school in the 70s we were told it would run out by about the year 2000! Link to comment Share on other sites More sharing options...
Mr_Squirrel Posted January 5, 2012 Share Posted January 5, 2012 When I was at school in the 70s we were told it would run out by about the year 2000! Indeed. Classic scaremongering for profit. When Oil does run out, there are already a number of alternative fuels ready to replace it but those replacements will not be allowed by the Petro companies until the last drop has been squeezed out of the last well and sold for a staggering amount of cash. Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 5, 2012 Share Posted January 5, 2012 Who is responsible for estimating remaing oil reserves? Can the estimators be trusted? How do we know oil won't run out sooner? Or even if there is way more oil left than they publicly say? If the oil industry is responsible for estimating why do we blindly accept what they say? food for thought Production at the oil field, deep in the Gulf of Mexico off the coast of Louisiana, was supposed to have declined years ago. And for a while, it behaved like any normal field: Following its 1973 discovery, Eugene Island 330's output peaked at about 15,000 barrels a day. By 1989, production had slowed to about 4,000 barrels a day. Then suddenly—some say almost inexplicably—Eugene Island's fortunes reversed. The field, operated by PennzEnergy Co., is now producing 13,000 barrels a day, and probable reserves have rocketed to more than 400 million barrels from 60 million. Stranger still, scientists studying the field say the crude coming out of the pipe is of a geological age quite different from the oil that gushed 10 years ago. Link to comment Share on other sites More sharing options...
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