Since it is Earth Day, I needed to toss on an orange shirt and be as "not Green" as I could.. just for fun...
Let's move on to oil, oil reserves and drilling. I already did one on Anthropomorphic Global Warming...
Here are a few fun facts that we can watch get spun today.
- The largest importer of oil to the US is Canada. The are reputed to have 179.2B barrels of provable reserves.
- At their current rate, those reserves will hold out 182 years.
- Oddly, the same source says that 95% are in oil sand... but they don't include the oil shale in the US
- The US has 21B barrels and can pump 12 more years at current rates.
- The US uses 21M barrels a day...
- We could last about 1000 DAYS if we didn't get oil from anywhere else... if we could pump the oil out fast enough.
- The US found another 3-4.5B barrels in ND/MT just this month. That isn't included in the above number.
- Also not included in the above number is oil shale... and we have A LOT of it. We have 2,500B barrels. We could run the US oil supply for 110 years with no oil imports.
- Just to give you an idea, this is more oil that has been used since the discovery of oil...
- Estimates say that oil needs to be at $75/barrel for it to be economically recoverable.
- ANWR (also not included in the above number) contains between 5.7 and 16B barrels of oil. The mean (10.4B barrels) would let us cut off "unfriendly" oil for a decade or two...
- China and Cuba have announced plans to drill off the south coast of FL (in the straights) for the 4.6-9.3B barrels of oil there. Much of it actually lies in US waters, but they can use "slant drilling" to recover the oil. Florida won't let us drill for the same oil.
- There are also a few billion barrels off the west coast of FL... that they won't let us go after.
Using these data (estimated reserves: 800 billions of barrels, world consumption: 76 millions per day), it looks like planet Earth has have oil for about 10,000 days, i.e. about 27 years. Assuming that consumption does not increase... If consumption increases an average 5% a year, then we have oil for about 15 years. But the US Geological Survey estimates the amount of oil that is still to be found at about 3 trillions, three times the oil reserves known today (it is not clear if "all" that oil can actually be pumped to the surface and therefore used). The real issue is when will production be insufficient to cover demand? That largely depends on demand, not on reserves.Source
Wikipedia Oil Reserves
China Drilling
Gulf of Mexico Reserves get a bump
ANWR Drilling Wiki
I guess that is enough picking on Earth Day...
Lane, There will be no Nobel Peace prizes for you, how can you blaspheme such a Liberal pagan ritual as earth day.