br1756's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/181901/comments http://seekingalpha.com/article/81050-is-the-long-commute-still-worth-it?source=feed#comment-183982 183982 Thu, 12 Jun 2008 08:26:43 -0400 http://seekingalpha.com/article/81063-1-238-billion-barrels-of-oil-reserves-is-this-an-oil-price-bubble?source=feed#comment-183959 183959
85 million barrels per day times 365 days = 31.025 billion barrels/year

So 1238 billion barrels = 40 years oil at current consumption rates

If you up consumption to 100 million barrels per day, that works out to 34 years worth of oil.

I don't know about you -- I am more than 34 years old. The idea that the lifeblood of the world economy could run out within the lifespan of a young adult is bone-chilling. I should think the warning bell has been sounded loud and clear with the latest rise in the price of oil.

Incidentally, my take on peak oil is that the oil will not run out in 34 years, because there is no way we will achieve 100mbpd production. Rather, production shortfalls will force us to figure out how to get by on 60mbpd, and eventually 40mpbd. The story will be all about how we can weather the supply shocks while still trying to find technological alternatives to oil.]]> Thu, 12 Jun 2008 07:52:19 -0400
85 million barrels per day times 365 days = 31.025 billion barrels/year

So 1238 billion barrels = 40 years oil at current consumption rates

If you up consumption to 100 million barrels per day, that works out to 34 years worth of oil.

I don't know about you -- I am more than 34 years old. The idea that the lifeblood of the world economy could run out within the lifespan of a young adult is bone-chilling. I should think the warning bell has been sounded loud and clear with the latest rise in the price of oil.

Incidentally, my take on peak oil is that the oil will not run out in 34 years, because there is no way we will achieve 100mbpd production. Rather, production shortfalls will force us to figure out how to get by on 60mbpd, and eventually 40mpbd. The story will be all about how we can weather the supply shocks while still trying to find technological alternatives to oil.]]> http://seekingalpha.com/article/77412-odds-favor-short-term-slip-in-crude-prices?source=feed#comment-167993 167993 Thu, 15 May 2008 09:40:28 -0400 http://seekingalpha.com/article/77216-gold-and-oil-price-limits?source=feed#comment-167787 167787
At 85 million barrels per day, 85x365 = 31,000 or 31 billion barrels.

So a "huge find" of 33 billion barrels represents approximately one year's global consumption at today's rates.

What will limit us in the end will be the rate of extraction long before all the oil is gone, and by this measure it looks like it will be well before 30 years are up before we are down to say, 40 million barrels per day. Simply look up the rate of production from the world's major producers, and apply some of the depletion curves which have already occurred in Mexico, the North Sea, the USA, etc.


]]> Wed, 14 May 2008 22:21:35 -0400
At 85 million barrels per day, 85x365 = 31,000 or 31 billion barrels.

So a "huge find" of 33 billion barrels represents approximately one year's global consumption at today's rates.

What will limit us in the end will be the rate of extraction long before all the oil is gone, and by this measure it looks like it will be well before 30 years are up before we are down to say, 40 million barrels per day. Simply look up the rate of production from the world's major producers, and apply some of the depletion curves which have already occurred in Mexico, the North Sea, the USA, etc.


]]> http://seekingalpha.com/article/73321-emerging-markets-oil-appetite-to-exceed-u-s-this-year?source=feed#comment-154942 154942
See:

www.eia.doe.gov/pub/oi...

So there is no lid at $200, unless people stop driving, which at some point they will be forced to do. (If not at $200 oil then at $300 oil or $500 oil.)

]]> Tue, 22 Apr 2008 20:04:19 -0400
See:

www.eia.doe.gov/pub/oi...

So there is no lid at $200, unless people stop driving, which at some point they will be forced to do. (If not at $200 oil then at $300 oil or $500 oil.)

]]>