Australian Politics Forum - We ran out of oil this year, don't you know

Grappler Deep State Feller

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Re: We ran out of oil this year, don't you know
Reply #15 - Oct 2^nd, 2015 at 12:22am

I read at some time earlier that petroleum would run dry any time between about 2035 and 2058 or so....

My entire World War IV book series is based on the lack of easy access to petroleum and its products and thus an entirely different battlesphere is created from what we now see. The entire series is - in some ways - very akin to the circumstances prevailing at the time of the American Civil War - which is basically where it all starts with a Second Civil War between East and West United States, and developing from there.

The whole thing is basically an Infantry bar-room brawl.... and the series is very ground zero trooper stuff....

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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mariacostel

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Re: We ran out of oil this year, don't you know
Reply #16 - Oct 2^nd, 2015 at 11:57am

gizmo_2655 wrote on Oct 1^st, 2015 at 6:51pm:

Pho Huc wrote on Oct 1^st, 2015 at 12:11pm:

In all seriousness I wonder how much oil OPEC has left?
Most of the member states have been revising their reserve estimates upwards each year without any new field discoveries to enable them to sell more oil each year.
While they are going strong now I suspect that we wont get a huge amount of warning when the do finally dry up.

It's more about whether or not the oil can be extracted, or is worth extracting, than how much is underground.

The oil reserve tends to change with technology and the dollar value of oil, so 20 years ago, the limit was about how deep they could drill, and how much profit they'd make. If the price per barrel flatlines, or falls, it might then cost more to pump the oil up, than it's worth on the market.

I remember being told countless times that there would be no petrol by *insert year* and they were wrong every time. Now the USA and Canada are oil independent and even in Australia, there is a probable oil field in the southern ocean larger than the Saudi oil fields.

Looks like time to dust of the next set of oil predictions so we can laugh at them in 20 years as well.

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Pho Huc

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Re: We ran out of oil this year, don't you know
Reply #17 - Oct 2^nd, 2015 at 1:41pm

mariacostel wrote on Oct 2^nd, 2015 at 11:57am:

gizmo_2655 wrote on Oct 1^st, 2015 at 6:51pm:

Pho Huc wrote on Oct 1^st, 2015 at 12:11pm:

In all seriousness I wonder how much oil OPEC has left?
Most of the member states have been revising their reserve estimates upwards each year without any new field discoveries to enable them to sell more oil each year.
While they are going strong now I suspect that we wont get a huge amount of warning when the do finally dry up.

It's more about whether or not the oil can be extracted, or is worth extracting, than how much is underground.

The oil reserve tends to change with technology and the dollar value of oil, so 20 years ago, the limit was about how deep they could drill, and how much profit they'd make. If the price per barrel flatlines, or falls, it might then cost more to pump the oil up, than it's worth on the market.

I remember being told countless times that there would be no petrol by *insert year* and they were wrong every time. Now the USA and Canada are oil independent and even in Australia, there is a probable oil field in the southern ocean larger than the Saudi oil fields.

Looks like time to dust of the next set of oil predictions so we can laugh at them in 20 years as well.

Your so right Maria.
Since we keep finding new sources of oil we obviously have an infinite supply of it, and there is no point thinking about it running out.

Your very, very wise.

Sarcasm aside, hopefully the oil supply will hold out long enough that we will be able to get the alternative technologies developed before they are essential.

We don't have to run out of oil completely for it to become a crisis. Petrochemicals are essentials to so many of our industries that even a slight reduction in supply creates chaos.

Then you have to factor in growth of consumption in the developing world. The 1st world isn't going to stop using oil, BRIC's is going to start going through a lot more.

I don't think freaking out is appropriate, but I would support massively increasing funding to bio-fuel research to speed a source of a replacement hydrocarbons.

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« Last Edit: Oct 2^nd, 2015 at 1:50pm by Pho Huc »

The law locks up the man who steals the goose from the common, but leaves the greater criminal loose who steals the common from the goose (convict saying)

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BatteriesNotIncluded

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people died for this!

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Re: We ran out of oil this year, don't you know
Reply #18 - Oct 2^nd, 2015 at 2:03pm

gizmo_2655 wrote on Oct 1^st, 2015 at 6:51pm:

Pho Huc wrote on Oct 1^st, 2015 at 12:11pm:

In all seriousness I wonder how much oil OPEC has left?
Most of the member states have been revising their reserve estimates upwards each year without any new field discoveries to enable them to sell more oil each year.
While they are going strong now I suspect that we wont get a huge amount of warning when the do finally dry up.

It's more about whether or not the oil can be extracted, or is worth extracting, than how much is underground.

The oil reserve tends to change with technology and the dollar value of oil, so 20 years ago, the limit was about how deep they could drill, and how much profit they'd make. If the price per barrel flatlines, or falls, it might then cost more to pump the oil up, than it's worth on the market.

Wow, what a salient point

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*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

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Ex Dame Pansi Gold Member Offline Australian Politics Posts: 24168	Re: We ran out of oil this year, don't you know Reply #19 - Oct 2^nd, 2015 at 4:17pm We ran out of oil this year, don't you know Did we? I still think they have some at Aldi.
Back to top	"When the power of love overcomes the love of power, the world will know peace." Hendrix andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up..... IP Logged

mariacostel

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Re: We ran out of oil this year, don't you know
Reply #20 - Oct 2^nd, 2015 at 4:23pm

Pho Huc wrote on Oct 2^nd, 2015 at 1:41pm:

mariacostel wrote on Oct 2^nd, 2015 at 11:57am:

gizmo_2655 wrote on Oct 1^st, 2015 at 6:51pm:

Pho Huc wrote on Oct 1^st, 2015 at 12:11pm:

In all seriousness I wonder how much oil OPEC has left?
Most of the member states have been revising their reserve estimates upwards each year without any new field discoveries to enable them to sell more oil each year.
While they are going strong now I suspect that we wont get a huge amount of warning when the do finally dry up.

It's more about whether or not the oil can be extracted, or is worth extracting, than how much is underground.

The oil reserve tends to change with technology and the dollar value of oil, so 20 years ago, the limit was about how deep they could drill, and how much profit they'd make. If the price per barrel flatlines, or falls, it might then cost more to pump the oil up, than it's worth on the market.

I remember being told countless times that there would be no petrol by *insert year* and they were wrong every time. Now the USA and Canada are oil independent and even in Australia, there is a probable oil field in the southern ocean larger than the Saudi oil fields.

Looks like time to dust of the next set of oil predictions so we can laugh at them in 20 years as well.

Your so right Maria.
Since we keep finding new sources of oil we obviously have an infinite supply of it, and there is no point thinking about it running out.

Your very, very wise.

Sarcasm aside, hopefully the oil supply will hold out long enough that we will be able to get the alternative technologies developed before they are essential.

We don't have to run out of oil completely for it to become a crisis. Petrochemicals are essentials to so many of our industries that even a slight reduction in supply creates chaos.

Then you have to factor in growth of consumption in the developing world. The 1st world isn't going to stop using oil, BRIC's is going to start going through a lot more.

I don't think freaking out is appropriate, but I would support massively increasing funding to bio-fuel research to speed a source of a replacement hydrocarbons.

I had only ONE point in my post - the repeated failure of oil supply predictions. Obviously, it is not infinite, but it may be 200-300 years. I don't know, but rather obviously, neither does anyone else.

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polite_gandalf Gold Member Offline Australian Politics Posts: 20027 Canberra Gender:	Re: We ran out of oil this year, don't you know Reply #21 - Oct 2^nd, 2015 at 7:36pm A wise old saying comes to mind: the stone age didn't end because we ran out of stones
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ordinaryguy Gold Member Offline Australian Politics Posts: 625 Gender:	Re: We ran out of oil this year, don't you know Reply #22 - Oct 2^nd, 2015 at 7:40pm Islam never ended because you never ran out of Qur'ans.
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BatteriesNotIncluded Gold Member Offline MediocrityNET: because people died for this! Posts: 26966	Re: We ran out of oil this year, don't you know Reply #23 - Oct 3^rd, 2015 at 11:29am ordinaryguy wrote on Oct 2^nd, 2015 at 7:40pm: Islam never ended because you never ran out of Qur'ans. Finally the printing press felt the need to be implemented...
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BatteriesNotIncluded

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people died for this!

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Re: We ran out of oil this year, don't you know
Reply #24 - Oct 3^rd, 2015 at 11:31am

mariacostel wrote on Oct 2^nd, 2015 at 4:23pm:

Pho Huc wrote on Oct 2^nd, 2015 at 1:41pm:

mariacostel wrote on Oct 2^nd, 2015 at 11:57am:

gizmo_2655 wrote on Oct 1^st, 2015 at 6:51pm:

Pho Huc wrote on Oct 1^st, 2015 at 12:11pm:

In all seriousness I wonder how much oil OPEC has left?
Most of the member states have been revising their reserve estimates upwards each year without any new field discoveries to enable them to sell more oil each year.
While they are going strong now I suspect that we wont get a huge amount of warning when the do finally dry up.

It's more about whether or not the oil can be extracted, or is worth extracting, than how much is underground.

The oil reserve tends to change with technology and the dollar value of oil, so 20 years ago, the limit was about how deep they could drill, and how much profit they'd make. If the price per barrel flatlines, or falls, it might then cost more to pump the oil up, than it's worth on the market.

I remember being told countless times that there would be no petrol by *insert year* and they were wrong every time. Now the USA and Canada are oil independent and even in Australia, there is a probable oil field in the southern ocean larger than the Saudi oil fields.

Looks like time to dust of the next set of oil predictions so we can laugh at them in 20 years as well.

Your so right Maria.
Since we keep finding new sources of oil we obviously have an infinite supply of it, and there is no point thinking about it running out.

Your very, very wise.

Sarcasm aside, hopefully the oil supply will hold out long enough that we will be able to get the alternative technologies developed before they are essential.

We don't have to run out of oil completely for it to become a crisis. Petrochemicals are essentials to so many of our industries that even a slight reduction in supply creates chaos.

Then you have to factor in growth of consumption in the developing world. The 1st world isn't going to stop using oil, BRIC's is going to start going through a lot more.

I don't think freaking out is appropriate, but I would support massively increasing funding to bio-fuel research to speed a source of a replacement hydrocarbons.

I had only ONE point in my post - the repeated failure of oil supply predictions. Obviously, it is not infinite, but it may be 200-300 years. I don't know, but rather obviously, neither does anyone else.

maria is a doubt-merchant: who would've have guessed that ?

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*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

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