How much oil is left?

[FX2.3]

I was wondering this today and found a 3 year old article by edmunds when gas was $60 a barrel. The only real answer I could find points to around 2036.. what do you think? what have you heard?

It would be crazy if oil became a toy that only the rich could afford as it becomes scarcer..

I am ordering the lowering coils and after some hard work this summer will come new smaller tires and light weight rims.. hopefully after a re-tune I will see +30mpg hwy.. and maybe someday be electric, but most likely after I finish college

I wish ford still made electric Rangers

[hvatum]

Originally Posted by FX2.3

I was wondering this today and found a 3 year old article by edmunds when gas was $60 a barrel. The only real answer I could find points to around 2036.. what do you think? what have you heard?

It would be crazy if oil became a toy that only the rich could afford as it becomes scarcer..

I am ordering the lowering coils and after some hard work this summer will come new smaller tires and light weight rims.. hopefully after a re-tune I will see +30mpg hwy.. and maybe someday be electric, but most likely after I finish college

I wish ford still made electric Rangers

Unfortunately A LOT.

The question is what will it cost to get it. Only recently has the price consistently headed above $35. That's the break even point for commercial coal liquefaction (seems low to me actually). It's not a theoretical technology, Nazi Germany was running their entire army on it until the syn plants were bombed.

http://findarticles.com/p/articles/m..._6/ai_89924477

That's not including the tar sands reserves spread around the world, which probably contain about twice the liquid oil reserves. Those haven't even entered into the equation until recently, since it's a highly environmentally damaging process to remove the oil and pretty expensive. First we'll use up those, and then begin industrial coal liquefaction. This hasn't been implemented yet though as building the massive refinery capacity to do this has a huge lead time and presents a huge financial risk if it suddenly turns out oil gets cheap again. Also, environmentalists (rightly) block this from being implemented.

I personally do foresee a continued increase in gas prices, but not due to a lack of raw supply. More so, due to a lack of refining and production capacity and carbon taxes, all of which are products of the environmental movement. I'm fine with that though.

[Daox]

I've heard roughly 35 years for crude oil. After that, as mentioned above, there still is oil around, but its really expensive to get to.

[tjts1]

There more oil, tar sands, natural gas, and coal left in the ground than atmosphere to pollute. The only real fear is that the price suddenly drops again like the 1980s and its back to the same old same old.

[Duffman]

There is lots of oil left, the price increases we are seeing are from more people trying to buy it for themselves (Chinea & India). Cheap oil is done forever IMO, whether it be from Carbon Taxes or continued high demand. The easy oil has been pumped out of the ground a long time ago.

[igo]

Well peak oil is here now or will be really soon. It don't think all the oil will be used up for a long time, because as prices oil get ridiculous in the future ($500 to $1,000 a barrel). Alternatives will become more and more attractive.

So I will guess oil will get unacceptably high priced by 2025 (I would say 60% to 80% of all oil will be used by that point.

[Arminius]

Some of the graphs in the link below are very useful. Regarldess of who you believe, we need to be wise and responsible in planning the future. We are in this together.

http://en.wikipedia.org/wiki/Peak_oil




.

[FX2.3]

Alot of great information!

Guess that means electricity is the true alternative, no point in ethanol or hydrogen, but then the electric companies could become the new OPEC even with solar, wind, and hydroelectric powering our vehicles. Those who control the grids, control the future. Oil is a dying, ethanol is not practical as food and fuel, and hydrogen is eh..

Any ideas on the cost to convert my 3085lb truck into an electric?

[diesel_john]

We don't know how much oil there is. And the people who have a good idea, aren't saying. But it is a mute question, because we are sure we don't have enough oxygen to burn it.

[hvatum]

Originally Posted by Arminius

Some of the graphs in the link below are very useful. Regarldess of who you believe, we need to be wise and responsible in planning the future. We are in this together.

http://en.wikipedia.org/wiki/Peak_oil




.

Remember though, peak oil does not equate to peak cheap energy.

It's true that we're approaching peak oil, but we're decades off from hitting peak fossil fuels, most of which can be gasified.

We need to be wise and responsible about planning for the future, but not because we're about to or already running out of fossil fuels, rather because we're doing serious damage to our environment.

Originally Posted by igo

Well peak oil is here now or will be really soon. It don't think all the oil will be used up for a long time, because as prices oil get ridiculous in the future ($500 to $1,000 a barrel). Alternatives will become more and more attractive.

So I will guess oil will get unacceptably high priced by 2025 (I would say 60% to 80% of all oil will be used by that point.

Prices would only approach levels like that either temporarily, or due to government regulations and taxes. Given that it's already economical at, being pessimistic, $50 per barrel to gasify coal, extract tar sands and so on prices like that won't hit anytime soon due to natural market conditions.

Originally Posted by tjts1

There more oil, tar sands, natural gas, and coal left in the ground than atmosphere to pollute. The only real fear is that the price suddenly drops again like the 1980s and its back to the same old same old.

Yup, sadly that's the case!

Really cheap oil is done now though, we can no longer just dig a 10ft well and have an oil gusher like in 1900. It's still pretty damn cheap as energy sources go though.