How long till the cheap oil that's easy to get to runs out.?

Question

The info I've bin reading from experts back in the 60's and 70's suggest that the world’s peak oil production is being hit right now and that from this point forward the world will never be able to produce more oil than it is now. This also means that oil supplies from now on will start to sharply decline.
The data used to compile these facts doesn’t take into account for Chinas sudden entrance into the industrialized world and there ever increasing consumption of oil.
If any one would like to add or detract from this statement I would love the input.

What I think most people don’t understand is that if you count all the oil in all the wells on the planet, than you may have about 100 years of oil left. The problem with that is that at some point before that 100 years the easy clean oil runs out and all that is left in the well is the hard to refine and hard to extract oil. This oil is very expensive to extract from the well and it may coast a barrel of oil in energy to get a barrel of oil from the well. So don’t be fooled by the 100 year time line.

Answer 1

i think since we have the technology to harness all types of power from the sun...tidal, wind, solar... that we should begin a massive infrastructure program to use this inexhaustable supply of free energy once we have the infrastructure in place...i mean the sun...when will it run out..5 billion more years....and its free once the machines are in place...screw the middle east....
all the power on this earth came from the sun somehow and we use the most messy, hard to get at version for some reason...

time to change this nonsense

and by the way...i am a conservative, financially, morally and every way....but what is right is right...

if this country harnesses the free power the sun supplies in all its forms, we wuill remain the superpower on this planet for the next 200 years...if we let some petty tyrants and fascists who control the oil dictate to us, we will be lost economically and spiritually....

Answer 2

The ultimate expiration of the resources might arrive in 50 years or so, but on the way to that point in time oil will get insanely expensive to drill and the consumer will not be able to pay for it anymore. Oil prices of $1000+ a barrel will be commonplace and a country as depending on oil as the U.S. will come to a stand still unless alternatives are found.

The Bush junta doesn't want alternatives to oil, because it's corporate sponsors are gaining on the prices of the dwindling resources. Exxon is a bright example for that. Last year they made a win of $157.000.000 after tax EACH AND EVERY DAY OF THE YEAR.
No wonder that the Bush junta isn't looking for alternatives, or if it does, it is nothing but an alibi research.

Answer 3

In many ways we still have the same price for oil we had in the 70's. Compare the cost of a new car to the gas you put into it, inflation has just in the last couple of years hit gas. The reason gas hasn't been hit harder & earlier is the sellable by products have been spreading the cost over more products.

You are right the price for energy is due to skyrocket very soon. Even though individual products are more efficient today, we are consuming more toys & more are going to the well since we have consumed over 1/2 the world's oil.

Expect the economy of 1850 by 2050 if we don't change the economics of Renewable Energy before the energy crisis collides with the baby-boomers' retirement bill!

Answer 4

Studies in the 1970's indicated 2050 to 2075 was the time our planet would run dry. Oddly enough conversion to natural gas for electrical needs, massive improvements in vehicle fuel efficiency (since the 70's) and serious exploration have found a lot more supplies. Most serious scientists that are not bought off by oil companies or environmental groups (agenda minded scientist are all biased) suggest there is at least 200 years worth of ample supplies on this planet.

Answer 5

I hear you loud and clear and thank you for asking a question. I am a guilty American who spend more energy than the rest of people in this world.I did urge the top man to find an alternative for oil and educate Public about how serious of global warming.Believe me it is going to run out no matter what oil or water.The study from the CIA already predicted the year 2015 the nations are going to war for water not oil.It about time you and me keep the this conversation going until our people in this world wake up and demand our leaders to change the way we use oil and water.

Answer 6

Actually you are correct and not so correct simultaneously. The extraction of highly combustible fuel from oil shale is about to be realized. That will address the oil shortage which is inevitable. But a more salient point is alternate fuels. There will be an explosion of r and d for these new fuels once our people get rid of the oil mafia currently running the country.

Answer 7

Not soon enough! Go ahead buy another Escalade or Navigator!
We had our warning with a couple of gas crises already and ignored them because oil was cheap. Hiding your head in the sand wont change the inevitable...THERE IS ONLY SOME MUCH OIL and when its gone its gone!

Answer 8

There is no doubt that oil supplies will be exhausted one day. Alternate energy resources have to be developed. Progress in this direction is not satisfactory. Our scientist have greater responsibility to save the world from big energy crisis.

Answer 9

You are right!
I heard the supply will peak in the next year or two, that is why we need to go electric or any other alternative to oil. We will when they are price competitive to oil.

Answer 10

i have a few better questions. what type of vehicle do you drive, how economical is it? why dont we invest more in alternative fuel systems? if possible do you carpool to conserve energy? are you doing anything to lessen the demand for petroleum based products? how high will the price of gasoline have to go before people begin to make a real effort to lower demand?