oil depletion rate vs. global economy
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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.
tttybhgf 2 years ago
production has been flat for almost 4 years now,
looks to me like we are there.
postpeakman 3 years ago
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.
smit1807 3 years ago
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.
gbm322 3 years ago
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.
rvbarnesboy 4 years ago
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?
ISinisterI 4 years ago
2012 +/- 3 years
mkwin05 4 years ago
oil production will peak (every expert says its different from the 1980's oil hike)...but when? nobody knows
ISinisterI 5 years ago