2007-02-08 05:00:02 · 4 answers · asked by Kim M 1 in Social Science ➔ Economics
People say it gonna be out in 20 years, but we keep discovering new places to drill.
But I say, plane for the worst
2007-02-08 05:18:33 · answer #1 · answered by Mr. DC Economist 5 · 0⤊ 0⤋
the quick answer isn't any! The lengthy answer--I have concept about this and the answer continues to be NO! Oil can be the major source of potential for the subsequent 50 to at least one hundred years. with oil at one hundred money a barrel---Now should be an extremely good time to commence utilising ANWR or drilling elseswhere-- Oil receives better expensive to get---it is going to not in any respect run out. I purely examine in properly-known technology--some guy has got here upon a thanks to apply recycled tires to provide oil--some style of microwave technique. the in hardship-free words reason we are not drilling in ANWR and propping up our potential is by using the ENVIRONMENTALIST! Having those reserves buried in Alaska and 5 YEARS from getting it to the market is organic folly on our area. less than what condition is it solid for --that isn't change in a 5 3 hundred and sixty 5 days era. conflict--or an OIL EMBARGO---so for 5 years we starve our economic gadget or our conflict attempt.---no man or woman should be that ignorant. Bush proposed drilling in ANWR 5 years in the past in his state of the UNION SPEECH--that oil should be for sale immediately---30 years well worth of oil that we import immediately FROM SAUDI ARABIA--and that is purely what we predict of is there! they reported a similar element about different oil fields we are at present utilising in alaska---and we've got here upon over 3 cases as a lot in those previous fields. The oil sands in Canada carry 3 cases the shown reserves of the oil in Saudi Arabia. -The Canadians at the instantaneous are not withholding that in some weird and wonderful attrition scheme. they're making a fortune off of it.
2016-12-03 21:55:27 · answer #2 · answered by ? 4 · 0⤊ 0⤋
At current usage for the foreseeable future, given present and projected development of reserves (and using them), we will never run out of oil (or natural gas).
Check out www.ogj.com
2007-02-08 05:20:43 · answer #3 · answered by CJohn317 3 · 0⤊ 0⤋
It has been predicted in the 1950's that the peak would be reached by Thanksgiving 2005 and everything from there on is downhill.
2007-02-08 05:07:09 · answer #4 · answered by Mantenga 1 · 0⤊ 0⤋