Oil prices up yet again.

[megawatt]

You really do read what you want to ...

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The point is if you Google looking for information on oil shortages and peak oil etc etc then that's what you'll find.

The US Geological Survey is in the public domain as are many other factual geological surveys ... You simply don't read them because they are in conflict with the notion in your head which you aren't prepared to challenge.

There are squillions of white papers and resources around if you look and they are far more authoritative than google or Times online or WIKIPEDIA.

Try ... http://www.usgs.gov/science/science.php?term=829

I'm sure you won't bother and I don't care either way I just thought I'd play Devils Advocate on this one.

No more interest now so I'll leave you and the Oil expert to battle it out if he comes back.

MW

 

[joe-90]

Do the sums mate. 3.5 billion barrels divided by our daily total of 87 million barrels. How long would that last? Here's your big chance to put joe-90 down.
What you waiting for?

 

[megawatt]

Oh no no no Joe me old mate, don't think for a minute you are getting away with that.

You have been stating for months that there have been no new oil supplies discovered since the 60's and yet you have been supplied with hard facts from the poster this afternoon and by me which quite clearly say the converse ... Unless you are trying to say that all the USGA surveys in the links I've given you are false?

You have no further credibility on this subject unless you can explain the obvious disparity between your stance and the hard facts you have been given.

Let's see the substance behind your argument ... Post your references ... I've posted mine.

It's put up or shut up time

Oh and BTW It's too late for Joe-90 put down time ... It's already happened ... You were well beasted today by matey boy

MW

 

[godsoftandjoearedull]

Untitled

• godsoftandjoearedull
• 9 Jul 2008
• 1

 

[joe-90]

Come on mega.

Do the sums mate. 3.5 billion barrels divided by our daily total of 87 million barrels. How long would that last? Here's your big chance to put joe-90 down.
What you waiting for?

You can't do it can you? You can't even do simple division with a computer.

 

[godsoftandjoearedull]

Untitled

• godsoftandjoearedull
• 9 Jul 2008
• 1

 

[Thermo]

Come on mega.

Do the sums mate. 3.5 billion barrels divided by our daily total of 87 million barrels. How long would that last? Here's your big chance to put joe-90 down.
What you waiting for?

You can't do it can you? You can't even do simple division with a computer.

erm i think we really are heading for an oil crisis, because that means weve got enough to last us 40 days.

or are your figures wrong joe? or did you make them up? or did you read the wrong page on the internet?

perhaps have a look at these figures



Glossary
Home > Energy Basics 101 > Petroleum Basic Statistics
Petroleum Basic Statistics (data for 2006 except where noted)




Gallons of Oil per Barrel 42
Barrels of Oil per Metric Ton (U.S.) 7.33
U.S. Crude Oil Production 5,102,000 barrels/day
State Ranking of Crude Oil Production Texas - 1,088,000 barrels/day
U.S. Crude Oil Imports 10,118,000 barrels/day
U.S. Crude Oil Imports from OPEC 5,517,000 barrels/day
Top U.S. Crude Oil Supplier Canada - 1,802,000 barrels/day
U.S. Petroleum Product Imports 3,589,000 barrels/day
U.S. Petroleum Product Imports from OPEC 733,000 barrels/day
U.S. Net Petroleum Imports 12,390,000 barrels/day
Top U.S. Total Petroleum Supplier Canada - 2,353,000 barrels/day
Top Oil Producing Countries & Exporters #1 - Saudi Arabia

Top Oil Consuming Countries & Importers #1 - United States

U.S. Total Petroleum Exports 1,317,000 barrels/day
U.S. Petroleum Consumption 20,687,000 barrels/day
Dependence on Net Petroleum Imports (2007) 58.2%
Crude Oil Domestic First Price (2007 wellhead price) $66.52/barrel
Motor Gasoline Retail Prices (2007 U.S. City Average) $2.85/gallon
Regular Grade Motor Gasoline Retail Prices (2007 U.S. City Average) $2.80/gallon
Premium Motor Gasoline Retail Prices (2007 U.S. City Average) $3.03/gallon
Federal Motor Gasoline Tax 18.4 cents/gallon
U.S. Motor Gasoline Consumption 9,253,000 barrels/day (388.6 million gallons/day)
Share of US Oil Consumption for Transportation 69%
U.S. Average Home Heating Oil Price $2.37/gallon (excluding taxes)
Number of U.S. Operable Petroleum Refineries 149
U.S. Refiners Ranked Capacity (1/1/2006) #1 - Baytown, Texas (ExxonMobil) 562,500 barrels/day
Top U.S. Petroleum Refining States #1 - Texas 4,337,026 barrels/day
U.S. Proved Reserves of Crude Oil as of December 31, 2006 20,972 million barrels
Top U.S. Oil Fields (2005) Prudhoe Bay, AK
Top U.S. Producing Companies (2006) BP - 827,000 barrels/day
U.S. Strategic Petroleum Reserve 689 million barrels
Total World Oil Production (2005) 82,532,000 barrels/day
Total World Petroleum Consumption (2005) 83,607,000 barrels/day


thats just the figures for the usa

then there are these ones for the rest of the world for PROVED reserves

Greatest Oil Reserves by Country, 2006
Rank Country Proved reserves
(billion barrels)
1. Saudi Arabia 264.3
2. Canada 178.8
3. Iran 132.5
4. Iraq 115.0
5. Kuwait 101.5
6. United Arab Emirates 97.8
7. Venezuela 79.7
8. Russia 60.0
9. Libya 39.1
10. Nigeria 35.9
11. United States 21.4
12. China 18.3
13. Qatar 15.2
14. Mexico 12.9
15. Algeria 11.4
16. Brazil 11.2
17. Kazakhstan 9.0
18. Norway 7.7
19. Azerbaijan 7.0
20. India 5.8

Top 20 countries 1224.5 (95%)
Rest of world 68.1 (5%)
World total 1,292.6

which is a bit more than 3.5 billion barrels, so actually maybe it will last longer than the 40 days in your figures. So where do you get your figures from Joe? Simple question you might like to actually answer

by the way is the world going to end today?

 

[Shytalkz]

3.5bbl is the estimate of UK resources left; 87mbpd is the world's use. If the world was wholly reliant upon us for the black gold, I make that 2486 days, or 6 years 9 months 21 days, 15 hours, 55 minutes and 18.2 seconds. Approximately

 

[joe-90]

How do you work that out? We use roughly 1 billion barrels per fortnight.

A billion is an American billion. One thousand million.

 

[joe-90]

Thermo, you just aren't getting to grips with the real problem. At the moment it isn't about oil running out, that's a few years down the road, it's about demand out-pacing supply which is what's happening now. Every year we use 7% more oil than the year before - and that figure compounds.
We use 7% more this year. Next year we use 7% more than the figure including this years 7%. Can anyone put that into an equation? I don't claim to be a maths expert. What it does mean though is that every ten years our consumption will double. We can't increase supply - so we have to decrease usage. That means a shrinking economy - or in other words - recession.

 

[megawatt]

Don't waste energy with Joe on this topic now guys (if you excuse the pun).

It's quite clear that he is completely factless, isn't prepared to respond to legitimate questions about facts in the public domain (because he's factless) and simply blusters on with the same tired old rhetoric.

I have no iontention of engaging any further with him on this issue until he's prepared to justify his position with facts other than something from Times online or Wikipedia.

And, you know what, he won't ... Not because he doesn't want to but because he can't

MW

 

[Shytalkz]

How do you work that out? We use roughly 1 billion barrels per fortnight.

I Googled it Guiseppe; just like you do .

A billion is an American billion. One thousand million.

Well in that case, seeing as I used 100million = 1 billion, what with being English an' all, that makes the store of oil (known about) even more.

 

[joe-90]

That's a good move mega, You aren't actually saying anything, you aren't actually adding to the discussion, so you drop out as your 'oil expert'(sic) has.

You really are afraid of the future aren't you?

Why do YOU think oil prices have gone up from $30 pb to $140 pb?

 

[joe-90]

How do you work that out? We use roughly 1 billion barrels per fortnight.

I Googled it Guiseppe; just like you do .

A billion is an American billion. One thousand million.

Well in that case, seeing as I used 100million = 1 billion, what with being English an' all, that makes the store of oil (known about) even more.

An English billion is a million millions. Are you really an engineer?

 

[Shytalkz]

Why do YOU think oil prices have gone up from $30 pb to $140 pb?

Speculators - started a while back with some pillock wanting to boast how he'd bought some oil at $100/barrel and flogged it off at $100+. The sheep then followed. Pensions are f*ucked, economies are f*cked, the only thing that can make some money is oil, so that's where all the funds have headed.