EnergyUnlimited wrote:Lets assume that current GoM oil will prove to be a feasible project.
How much oil (in estimate) could be found in similar other areas on the Earth?
What about drilling of ocean floor (lets assume, that we will master technology necessary to carry on such drilling)?
What about possible renessance of oil industry by deep water drilling projects?
Could it deffer PO for next 100 or 200 years?
Any other ideas?
What about possible renessance of oil industry by deep water drilling projects?
EnergyUnlimited wrote:Lets assume that current GoM oil will prove to be a feasible project.
How much oil (in estimate) could be found in similar other areas on the Earth?
What about drilling of ocean floor (lets assume, that we will master technology necessary to carry on such drilling)?
What about possible renessance of oil industry by deep water drilling projects?
Could it deffer PO for next 100 or 200 years?
Any other ideas?
NeoPeasant wrote:People will only know the production decline era as a bad time, they will not appreciate how much worse it could have been without the influx of deepwater production.
venky wrote:Hey this is fun!! Let me try.
I predict that oil as we know it today will peak in 2012 and goes into decline at 3% a year.
rwwff wrote:there'll still be 20 pound bags of rice selling for less than $10; and 5 pound bags of flour selling for a buck and change. As long as that is the reality in the US, there will be no *true* suffering.
CARVER wrote:There will be a lot more deep water oil, however this will be due to rising sea levels caused by global warming
Could it deffer PO for next 100 or 200 years?
CARVER wrote:venky wrote:Hey this is fun!! Let me try.
I predict that oil as we know it today will peak in 2012 and goes into decline at 3% a year.
I predict that oil will peak in 2016. There will be a lot more deep water oil, however this will be due to rising sea levels caused by global warming
Haha, lets not forgot once all the ice starts sliding off Antarctica we can start exploring for oil there.. thatll help out even more !
mekrob wrote:Haha, lets not forgot once all the ice starts sliding off Antarctica we can start exploring for oil there.. thatll help out even more !
How much oil is there? I can't remember any sources, but from a few topics on here, there might be 100 billion barrels, and let's just suppose that is true. Even then, that's only 550 extra days to prepare for peak. Only a year and a half! Whew, we dodged that Peak Oil bullet, didn't we?
Perhaps, mankind would use those reserves wisely then and implement strict quotas?
mekrob wrote:Could it deffer PO for next 100 or 200 years?
One new billion barrels of reserves pushed peak oil back by 5.5 days. Thus, you need 66.36 billion barrels of new oil to push the peak back by a year. To push it back by 100 years, you'd need 6.636 trillion barrels of oil and for 200 years, 13.272 trillion barrels.
Get out that shovel and start digging if you want peak to be pushed back 100 years.
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