Peak Oil News and Message Boards

At the current rate of consumption of 85.22 million barrels per day versus oil reserves calculated at 1.332 trillion barrels in 2008, the global supply of oil will run out by 2041, according to a study published online by Environmental Science and Technology. The estimate assumes that the annual growth of consumption stays at 1.3 percent.

The U.S. study by researchers at the University of California – Davis, also said that when oil is gone, it would take at least a century for man to develop other alternative energy sources to sustain the world’s economy.

Using a complex equation, the researchers concluded that companies who are currently developing alternative energy sources such as bio-diesel or ethanol would lack the capital needed to replace the production by traditional oil companies of today. They project that growth in the alternative sector would be far less than the growth to be displayed by oil companies in the near future as the world would be increasingly hungry for oil.

They said that alternative energy sources must be developed much quicker and be made commercially viable by 2041 to power vehicles and run industries.

Graeme wrote:World’s oil supply gone by 2041, study says

At the current rate of consumption of 85.22 million barrels per day versus oil reserves calculated at 1.332 trillion barrels in 2008, the global supply of oil will run out by 2041, according to a study published online by Environmental Science and Technology. The estimate assumes that the annual growth of consumption stays at 1.3 percent.

The U.S. study by researchers at the University of California – Davis, also said that when oil is gone, it would take at least a century for man to develop other alternative energy sources to sustain the world’s economy.

Using a complex equation, the researchers concluded that companies who are currently developing alternative energy sources such as bio-diesel or ethanol would lack the capital needed to replace the production by traditional oil companies of today. They project that growth in the alternative sector would be far less than the growth to be displayed by oil companies in the near future as the world would be increasingly hungry for oil.

They said that alternative energy sources must be developed much quicker and be made commercially viable by 2041 to power vehicles and run industries.

seerpress

Graeme wrote:

the global supply of oil will run out by 2041,
...
The estimate assumes that the annual growth of consumption stays at 1.3 percent.

The past seven years were both very exciting, and very difficult for the global energy markets. Today’s market faces two key challenges, both the product of human innovation and technological advancement. The first is the challenge faced by oil producers to rebalance the market amid new supplies from unconventional sources due to new and improved techniques to unlock them. The second challenge, one that is still developing, involves new automobile technology as world leaders race to ban combustion engines in favor of electrical vehicles. The first challenge is the most immediate. The technological advancement that led to what is known as the “shale oil revolution” has made conventional exporters rethink how they plan their economic strategies for the future. “For the first time in the history of oil, I see oil competing with oil,” said Abdullah Al-Attiyah, Qatar’s former minister of energy, at an industry

Subjectivist wrote:Life is change. We start out as a single cell in the womb, are born after a million cell divisions, grow to adulthood with another trillion cell divisions, and if we live long enough die as an old fogey after about a hundred trillion cell divisions. Civilization is analogous acording to my history prof way back when, it starts with a single village and grows into a large empire if it lasts long enough, then it dies and something else grows from the debris like the mushrooms that feast on a fallen tree trunks in the deep forest.

MD wrote:oh my. more bullshit.

everything is going to change, dramatically and hopefully not too suddenly.

be happy that you live in the most interesting times in all human history, and hang onto your hats!

Outcast_Searcher wrote:

Subjectivist wrote:Life is change. We start out as a single cell in the womb, are born after a million cell divisions, grow to adulthood with another trillion cell divisions, and if we live long enough die as an old fogey after about a hundred trillion cell divisions. Civilization is analogous acording to my history prof way back when, it starts with a single village and grows into a large empire if it lasts long enough, then it dies and something else grows from the debris like the mushrooms that feast on a fallen tree trunks in the deep forest.

And this has to do what with total fast crash doom in 1941 due to no oil being available?

Everything is going to change...

ralfy wrote:Not 31 years but much earlier.

Revi wrote:It really doesn't matter if it's all gone. It's the rate at which we are using the stuff that matters.

Revi wrote:The world economy demands 3% more every year. Anything less starves the system.

Revi wrote: Eventually it doesn't have enough to run business as usual, even when issuing more debt. Wars and shutoffs ensue. So far we have Syria, Yemen and several African countries on the war/shutoff list. There will be more and more. Meanwhile we will all pretend that all is well in the countries which haven't been turned off yet. 2041 seems a long way off, but I am pretty sure a lot of planning is going on about 23 years from now.

asg70 wrote:Interesting thread bump. The original link doesn't even resolve anymore. Is that kind of the new hobby of posters? Bumping threads that comment on past current events that would need to be found on the internet wayback machine?