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Originally posted by EastCoastKid
Originally posted by mrmulder
Found an interesting article contradicting what you found East Coast Kid. It states that a strange phenomenon shows abundance of possible crude oil in earth’s crust replenishing the drawn out reserves.
Click Here for the full story.
Thanks for the link mm. I'll checkit out. One thing is for sure. No one seems to be able to agree, for whatever reasons.
You have to admit, though, the PNACers & American big oil (companies) sure are acting like we're running out.
Originally posted by sardion2000
wiggy, care to show some evidence to your claims of price fixing?
Originally posted by Seekerof
Which assertion do you want credible links to?
This one is from an .edu site on the number of people murdered by Communism:
HOW MANY DID COMMUNIST REGIMES MURDER
Communism has been the greatest social engineering experiment we have ever seen. It failed utterly and in doing so it killed over 100,000,000 men, women, and children, not to mention the near 30,000,000 of its subjects that died in its often aggressive wars and the rebellions it provoked. But there is a larger lesson to be learned from this horrendous sacrifice to one ideology. That is that no one can be trusted with power. The more power the center has to impose the beliefs of an ideological or religious elite or impose the whims of a dictator, the more likely human lives are to be sacrificed. This is but one reason, but perhaps the most important one, for fostering liberal democracy.
[edit on 14-7-2005 by Seekerof]
Originally posted by Huabamambo
Peak Oil. It's just a corporate media conspiracy theory.
Originally posted by EastCoastKid
If Peak Oil is such a fraudulent issue then explain the mad rush to into the mideast, caucuses and Africa militarily.
At 2003 consumption levels , the remaining reserves represent 44.6 years of oil and 66.2 years of natural gas. Does this mean that the world will be out of fossil fuels in 50 years or so? That theory has been around since the 1970s. In fact, the figures for years of remaining reserves have remained relative constant over the past few decades as the industry has replaced consumption with newly discovered oil and gas deposits and has developed technologies to increase the amount of oil and gas that can be recovered from existing reservoirs.
No one can know for certain how much oil and gas remains to be discovered. But geologists sometimes make educated guesses. For example, the U.S. Geological Survey (USGS) conducts periodic assessments of U.S. mineral resources. In its most recent assessment (1995), the USGS estimated that the onshore U.S., including Alaska, has undiscovered, technically recoverable resources of 112.3 billion barrels of oil and 1,074 trillion cubic feet of natural gas. In a separate assessment of offshore resources completed in 2000, the U.S. Minerals Management Service (MMS) estimated that 75 billion barrels of oil and 362 trillion cubic feet of natural gas underlie the areas off the coasts of the U.S. The USGS and MMS resource assessments make clear that, despite being a very mature producing area, substantial resources still exist in the U.S.
World oil resources to 2025 may be more than two times current reserves, based on an estimate from the U.S. Energy Information Administration (EIA) using USGS data. Reserve growth of 730 billion barrels accounts for new discoveries and the expansion of what can be recovered from known reservoirs due to advances in technology and improvements in economics. But EIA estimates that in 2025, countries around the globe will still have more than 900 billion barrels of oil remaining to be discovered. EIA estimates total world oil resources at more than 2.9 trillion barrels of oil.
How much oil and natural gas i left?
"In 1947, proven oil reserves were 68 billion barrels. Between 1947 and 1968, 783 billion barrels were used —and proven reserves in 1998 stood at 1,000 billion (1 trillion) barrels.
"In 1966, world reserves of natural gas were 1 quadrillion cubic feet. Between 1966 and 1998, we used 2 quadrillion cubic feet — and reserves in 1998 stood at 5 quadrillion cubic feet.
"In 1949, world coal reserves were 256 billion short tons. Between 1949 and 1998, we used 168 billion short tons — and coal reserves stood at 1,000 billion (1 trillion) short tons."
WASHINGTON, DC, June 21 -- BP PLC tried recently to quell renewed concerns by some industry observers that world oil reserves are running out sooner than expected.
"2003 was a turbulent year in the world's energy markets, with supply disruptions, strong growth in both demand and production of oil and coal, and the highest prices in the oil and gas markets for 20 years," said BP Chief Economist Peter Davies.
However, he said, "The high prices were not driven by fundamental resource shortages: In 2003, the world's reserves of oil and natural gas continued their long term trend of growing faster than production."
BP: World oil and gas reserves still growing at healthy pace