Peak Oil

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Peak Oil

from : http://z4.invisionfree.com/Popular_Technology/index.php?showtopic=3425

 

Reserves:

 

- 1.8 to 6 Trillion barrels of oil are estimated in the U.S. Oil-Shale Reserves (DOE)

- 986 Billion barrels of oil are estimated using Coal-to-liquids (CTL) conversion of U.S. Coal Reserves (DOE)

- 173 to 315 Billion (1.7-2.5 Trillion potential) barrels of oil are estimated in the Oil Sands of Alberta, Canada (Alberta Department of Energy)

- 100 Billion barrels of heavy oil are estimated in the U.S. (DOE)

- 90 Billion barrels of oil are estimated in the Arctic (USGS)

- 89 Billion barrels of immobile oil are estimated recoverable using CO2 injection in the U.S. (DOE)

- 86 Billion barrels of oil are estimated in the U.S. Outer Continental Shelf (MMS)

- 60 to 80 Billion barrels of oil are estimated in U.S. Tar Sands (DOE)

- 32 Billion barrels of oil are estimated in ANWR, NPRA and the Central North Slope in Alaska (USGS)

- 31.4 Billion barrels of oil are estimated in the East Greenland Rift Basins Province (USGS)

- 7.3 Billion barrels of oil are estimated in the West Greenland–East Canada Province (USGS)

- 4.3 Billion (167 Billion potential) barrels of oil are estimated in the U.S. Bakken shale formation in North Dakota and Montana (USGS)

- 3.65 Billion barrels of oil are estimated in the U.S. Devonian-Mississippian Bakken Formation (USGS)

- 1.6 Billion barrels of oil are estimated in the U.S. Eastern Great Basin Province (USGS)

- 1.3 Billion barrels of oil are estimated in the U.S. Permian Basin Province (USGS)

- 1.1 Billion barrels of oil are estimated in the U.S. Powder River Basin Province (USGS)

- 990 Million barrels of oil are estimated in the U.S. Portion of the Michigan Basin (USGS)

- 393 Million barrels of oil are estimated in the U.S. San Joaquin Basin Province of California (USGS)

- 214 Million barrels of oil are estimated in the U.S. Illinois Basin (USGS)

- 172 Million barrels of oil are estimated in the U.S. Yukon Flats of East-Central Alaska (USGS)

- 131 Million barrels of oil are estimated in the U.S. Southwestern Wyoming Province (USGS)

- 109 Million barrels of oil are estimated in the U.S. Montana Thrust Belt Province (USGS)

- 104 Million barrels of oil are estimated in the U.S. Denver Basin Province (USGS)

- 98.5 Million barrels of oil are estimated in the U.S. Bend Arch-Fort Worth Basin Province (USGS)

- 94 Million barrels of oil are estimated in the U.S. Hanna, Laramie, Shirley Basins Province (USGS)

 

For Comparison:

- 260 Billion barrels of oil are estimated in Saudi Arabia (EIA)

- 80 Billion barrels of oil are estimated in Venezuela (EIA)

 

Reserve Speculation:

- 580 Billion barrels of oil are estimated in Russia's Arctic Ocean Shelf (Source)

- 400 Billion barrels of oil are estimated under the Arctic Ocean (Source)

 

BP Finds Giant Oil Field Deep in Gulf of Mexico (The New York Times)

Brazil reports massive oil discovery (WorldNetDaily)

Billions of gallons of oil in North Dakota, Montana (WorldNetDaily)

Finding New Oil In Long-exhausted Oil Wells (Science Daily)

Huge Oil Reservoir May Lie Under Northern Plains (FOX News)

Massive Canadian Oilfield Could Be Exploited Using New System (Science Daily)

Massive oil field found under Gulf (WorldNetDaily)

Mexico discovers 'huge' oil field (BBC)

Russia’s largest field is far from depleted (WorldNetDaily)

Saudi Arabia: 1.2 trillion barrels of oil or more (WorldNetDaily)

Tens Of Billions Of Additional Barrels Of Oil Remain To Be Tapped Miles Below Gulf Of Mexico, Cornell Geologist Says (Science Daily)

Thunder Horse in the Gulf (WorldNetDaily)

Ultra-low Cost Well Monitoring Could Save Thousands Of Marginal Oil Wells (Science Daily)

In order to believe in peak oil, you have to ignore economics, chemistry and history

 

economics (supply goes up, consumption goes down with price)

That is why we have recently had a series of dramatic announcements of new discoveries - the recent high oil prices have brought much new exploration which has found more supplies. (see below list of articles)

 

chemistry (you can make the stuff)

The Fischer–Tropsch (also: fischer-tropsch.org) process and the Bergius process, both used from the 1930s on, make liquid fuels form coal. Methane instead of coal can also be used a starting point. Sasol has been producing commercial quantities of oil from both processes for years.

 

History (Hitler ran a war on manmade oil)..

The Role of Synthetic Fuel In World War II Germany Said this: “The percentage of synthetic fuels compared to the yield from all sources grew from 22 percent to more than 50 percent by 1943"

Http://www.airpower.maxwell.af.mil/airchronicles/aureview/1981/jul-aug/becker.htm

 

Good News For Our Livability!

 

Recent news stories suggest that in a few years we will have more money on our pocket due to falling energy prices.

 

Fraking has dramatically expanded natural gas supplies and this has already forced the price of natural gas lower. On top of this, a December 23, 2010 New York Times story reports that refining a gallon of diesel fuel from natural gas only costs 50 cents compared to 31 cents from oil. This means that lower natural gas prices provide a vast new source of liquid fuels as long as gas is a little cheaper than crude for an equivalent energy content. The article reports that diesel made from natural gas is 85 cents per gallon cheaper than from oil. Now it is almost certain to be an even bigger difference. Sasol has been doing this on a commercial scale for decades and is now expanding into North America.

 

The second really big good news is that fraking is rapidly expanding our crude oil supply. On May 28, 2011, the New York Times reported that one new oil field (Bakken) went from “a trickle” to 400,000 barrels per day in just four years and could reach one million per day by the end of of the decade! Another is now producing 100,000 barrels per day and is expected to increase to 420,000 per day by 2015.

 

Against a background of the USA importing about 9.7 million barrels per day (2009), this is soon to lower our imports by 20%. And this new technology is just in its infancy!

 

One can easily project the application of this process to many more fields and a complete end of oil imports with the price dropping to close to the production cost, instead of being set by a cartel.

 

This will lower our energy costs and free up money for other uses - better food, better vacations, better clothes for the kids. All are an improvement to American’s standard of living, an increase in America’s livability!

 

Refrences:

 

http://eia.gov/energy_in_brief/foreign_oil_dependence.cfm

 

http://nytimes.com/2011/05/28/business/energy-environment/28shale.html?_r=1&pagewanted=print

 

http://www.nytimes.com/2010/12/24/business/energy-environment/24fuel.html?scp=1&sq=New%20Interest%20in%20Turning%20Gas%20to%20Diesel&st=cse

 

More Information:

http://www.masterresource.org/2011/02/unconventional-gas-us-iii/