How much oil is there?

[Snowman66]

Here's an interesting read

Proven oil reserves are not a measure of future supply of world petroleum. It is a well known fallacy in the petroleum industry to treat them in this way, and it has had serious political consequences.

[TexasR.N.]

While the consequences of running out of oil are numerous. Think about how the Middle East would fall apart. Just about the only thing they have of value is oil. If that ends what will happen over there? We would no longer have a national security interest in the region, with the exception of Iran or some other hostile gov't trying to acquire a nuke. But even, there wouldn't be a need for a large U.S. Military presence.

Back here at home.......hmmmmm and wow. I bet we drill like crazy, and maybe even make Mexico or Venezuela the 51st state with their supposed oil reserves (j/k). I really can't begin to imagine the changes we would face. I bet the price for a horse would skyrocket.
Craig

[kingchip]

All this panic about running out of oil is based on known, current fields, and current technology. I have watched one field in Texas, boom four times. Whenever a new method for retreival becomes proven, the companies hit it again. And that is just for existing fields. There are test wells all over the place with known and unknown reserves, that have never been attempted after the test. And then there are the wells that are producing at a shallower zone, knowing that there is more under it, but not completing to the deeper depth and testing.

There were a lot of dead trees and dinosaurs back then.

[lifewitlooie]

so are you saying there is alot more oil than we think.

[kingchip]

YEA! But the oil companies like the thinking, right now. It's good for their pocketbooks. But wait......Liberal Elitists like to spread the doom and gloom thing, also. Invest in Oil & gas(Algore), and then get rich talking them down.

But then again, with the Clean Air Act, noones building refineries, so if it were retreived, where would it be refined? Funny, LA has some of the worst air, and no refineries. Texas coast has a bunch, and pretty clear. Steam looks pretty ominous, but isn't all bad.

[Snowman66]

Originally Posted by lifewitlooie

so are you saying there is alot more oil than we think.

Nope, no shortage of oil. Been running out since it was discovered 150 yrs ago. All we have to do is drill for it and refine it.

The common denominator of treehuggers is we can't use whatever form of energy works or is cheap, but we have to use whatever is exspensive, dosn't exist or doesn't work.

Oh, I'm not cynical