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Wanderers Ways. Neil Thompson 1961-2021

Amazing Facts


scallywell

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Easily extractable oil is slowly running out however there are huge deposits of shale Oil etc

I wouldnt worry about it for another 150 years

 

 

there you go

 

if young daniel hasn't got owt to worry or come up with a theory about it, we're all fine n dandy

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there you go

 

if young daniel hasn't got owt to worry or come up with a theory about it, we're all fine n dandy

 

Yep, the Yanks are sitting on 1.5 trillion barrels of Oil! although its not all economically recoverable using todays technology.

Hence the Yanks Invading Iraq to pinch their cheap and easy Oil to tide them over.

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Hence the Yanks Invading Iraq to pinch their cheap and easy Oil to tide them over.

 

you got told off about this bollocks last time

 

young margaret will not be chuffed if he reads this

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Yep, the Yanks are sitting on 1.5 trillion barrels of Oil! although its not all economically recoverable using todays technology.

Hence the Yanks Invading Iraq to pinch their cheap and easy Oil to tide them over.

The first is correct the second is bollocks, the US as only to look over its border to Canada, because they have more than the US as and more than Iraq as too, hard to get at but its their

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The first is correct the second is bollocks, the US as only to look over its border to Canada, because they have more than the US as and more than Iraq as too, hard to get at but its their

 

US have more oil locked up in shale than Canada has in their tar sands, just even more difficult to get at than tar oil

Hence the huge difference between oil recoverable with todays technology and Oil in place reserve estimates

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US have more oil locked up in shale than Canada has in their tar sands, just even more difficult to get at than tar oil

Hence the huge difference between oil recoverable with todays technology and Oil in place reserve estimates

Have a look at this

 

http://www.eia.gov/countries/index.cfm?view=reserves

 

You will see that Canada is 3rd in ths list of proved oil reserves

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Have a look at this

 

http://www.eia.gov/countries/index.cfm?view=reserves

 

You will see that Canada is 3rd in ths list of proved oil reserves

 

You are missing my point, its only proven if it can be extracted here and now. in 50 years when technology has advanced those proven reserves will be totally different and in the USA's favour

 

We will revisit this thread in 2064.

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Its more to do with improved communication and standards of living.

 

Less people dying knowledge not as scarce and medical breakthroughs shared

Without oil none of this could happen, without oil we would still be in the dark ages ... most people equate oil with petrol they put in their car, which is small fraction of what hydro carbons are used for , take a look around you almost everything in the modern world as some oil derivatives in there, from your computer, to the chair you sit on to the clothes you wear, to pharmaceuticals , deodorant your put on to all the things that are made of plastic (which in today’s world is a lot) , the world is now built on hydro carbons just people don’t see it

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You are missing my point, its only proven if it can be extracted here and now. in 50 years when technology has advanced those proven reserves will be totally different and in the USA's favour

 

We will revisit this thread in 2064.

You can only go off what proven not what you thinks out there, even the stuff that hard to get at is part off the proven reserves.

This is one way the oil company’s stock price is judged by proven reserves, that’s why those figures are accurate if anything they will be on the low side, you are right on the changing technologies what is a marginal field today becomes worth the effort 20 to 30 years down the line, 30 years ago nobody would have thought to put an oil rig in 3000ft of water and the drill another 4000ft to get to the oil, because we didn’t have the knowhow to do it, but needs must. The US as know about shale gas for a sometime but could not get it out, now they can, but that all depends on the cost for a barrel of oil, at $100 a barrel is worth is at $50 its not , so it stays where it is, they own it , it’s been there for a few millions year so what is 20 to 30 years to wait to get it when its economical to do so

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