by pup55 » Tue 04 Jan 2005, 10:50:47
I know just enough about geology to be dangerous, so others may wish to comment:
From what I understand, almost all of these deposits were laid down within a relatively short time frame, and also, under specialized conditions of pressure and temperature, and also anaerobically, such that they became oil, rather than coal or gas, or turn into something else not burnable.
To be specific, most of these deposits were formed about the time of the dinosaurs (between 200 and 65 million years ago), a period of about 140 million years, give or take. This was the only time in Earth history that there was abundant enough plant life and/or organic life so as to accumulate this amount of biomass (the climate was quite different from today, a lot warmer and more tropical, apparently). After the deposits were laid down, they had to be buried under sufficiently deep sediment so as to "age" under conditions which were just right for the formation of oil. As I understand it, 100% of the oil deposits are found in sedimentary rocks, mainly limestone, and almost all were formed in this time window, so the way these geology types find the oil is to look for these deposits, and drill deep enough so as to get down to the Jurassic period, and see what you get. Actually, nowadays, they have ways to identify exactly how deep they have to go, and exactly where in the rock formation there is likely to be an accumulation of oil. If you go back and read a lot of Campbell's newsletters, he goes into detail about what types of sedimentary rock, if any, are around in a given country, and whether they are likely to contain very much oil, so all of this is fairly well known.
Also, as an aside, a lot of the dinosaur skeletons that were found originally were stumbled upon by oil prospectors, because they occur in the same kind of rock formations.
So, is there this type of deposit being formed today? Well, I think a good example would be the peat bogs of England and Ireland and also there are some in the US Midwest. If these were to become buried in several hundred feet of sediment, sink sufficiently close to the molten magma that forms the core of the earth so as to heat up the biomass to the point at which it becomes oil, but not overheat to the point at which it becomes gas, and not leach out into the surrounding area, become eroded, or have some other calamity happen to it, it might, in a few hundred thousand years, become useable oil.
Are there deposits formed relatively recently (from a geological point of view) such that they are on the way to forming oil? Probably all of these coal deposits are a good example. If we could wait maybe another 30 million years, we would be in business.
But, the problem is, the climatic and geological conditions that caused the oil to form in the first place, namely a tropical earth, followed by millennia of limestone deposition, are no longer around, so maybe these deposits would never turn into oil, because they never got buried deeply enough. Who is to say?
So, to answer your question, 99% of the geologists think this oil was formed mainly in a one-time-only "event" in earth history, fairly unique, and whether one would consider this resource "vast" depends on your point of view, but I think actually rare.
As many have pointed out, the big deposits of this stuff, nice and close to the surface, and easy to pump, have mainly already been found. Some possible exceptions to this are potential deposits that are under water, under ice, or remote enough in places like Siberia where no one with a drilling rig has been yet.
Is it possible that there are a lot of small deposits around (a couple of miles wide, for example, or maybe swimming pool sized) that we could tap into? Sure. Take, for example, the continent of North America, between the two mountain ranges. This area is almost all sedimentary rock, and out in the Great Plains a lot of it is close to the surface. Who's to say that you might not be out shooting at some food, a la Uncle Jed, and up from the ground come a bubblin' crude? Well, it's true, you might get lucky and find a swimming-pool sized deposit of oil out there someplace, but a more likely scenario is that the swimming-pool sized deposit is 5000 feet down, and it costs X number of million dollars to drill it, and you might only get Y number of barrels of oil from it, so it becomes an economic calculation as to whether or not you and Granny get to move to Beverly Hills, or whether or not you just leave it down there. Of course, if the oil price is $5000 a barrel, instead of $50, the decision to start drilling is completely different.
So how much oil is really underground out there? No one really knows, as far as I can tell, because it's all underground, and there are different opinions among so-called "experts" as to how much is drillable. Also, the extent to which a deposit is "drillable" depends on what the drilling costs are, and how badly you need the oil.
So here, in a nutshell, is the whole reserves argument, which in my opinion is the true root of the PO debate. Decide from this what you will. Like I said, others may wish to comment.