oil depletion rate vs. global economy

[tttybhgf]

Might i say that even though middle east is running out of oil(sooner or later). It has the advantage of nearly 365 days of sun, the most promising renewable energy source.

[smit1807]

Venezuela and Canada will never be able to replace the rate of depletion we will see (and ARE seeing) from the past-peak fields in the coming next few years. Lastly, it doesn't matter how many gigabarrels of oil any field has if it takes a barrel to extract a barrel.

[rvbarnesboy]

I've read that the tar sand oil is hard to get and extremely polluting process. but hey, why not spend a barrell to get a barrell? and maybe pollute Alberta.

[ISinisterI]

oil production will peak (every expert says its different from the 1980's oil hike)...but when? nobody knows

[mkwin05]

2012 +/- 3 years

[ISinisterI]

you seem confident...lol.

i dont think it will be that soon though... i mean the tar sands in canada and venezuala have hardly been tapped. each with a projected reserve of 1 trillion+ barrels.

but who knows right?

[gbm322]

The bitumen in Canada and Venezuela can not be scaled up anywhere near enough in the next 10-15 years to make much of a difference. Venezuela haven't even started on it yet, even though their bitumen is of better quality as it flows more easily and has less sulphur in it.

[postpeakman]

production has been flat for almost 4 years now,

looks to me like we are there.