President Bush and the Republican’t Nominee John McBush are both trying to exploit our pain at the gas pump into an opportunity to get even more profits for the oil companies by lifting the ban on offshore oil drilling.
This is an environmental disaster waiting to happen and it will NOT help lower gas prices. Worse yet it is an investment in continuing our dependence on oil and our reliance on oil producing countries that hate us.
It is time that we “turn and face the change” to alternative energy, renewable resources, Green Energy.
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Are we running out? Marko’s take on world oil production and reserves. Part 1 of 2.
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Are we running out? Marko’s take on world oil production and reserves. Part 2 of 2.
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Chapter 17b – Energy Budgeting (1 of 2): Petroleum has supplied the surplus energy that has allowed for social complexity, industrialization, and the modern conveniences that we enjoy. In this chapter, Dr. Chris Martenson explains that in the future our supply of surplus energy will decline due to the fact that increasing amounts of energy will be required to produce new energy. When poor net energy (ERoEI) returns are paired with peak oil production, it points to a return to a less complex society.
http://www.chrismartenson.com
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Peak Oil is the point of maximum production rates… it is not about “Running out of oil”
When peak oil production is reached, and demand for oil continues to soar. Then the price of oil will continue to go up.
Links in the Video:
Bakken Formation (wiki): http://en.wikipedia.org/wiki/Bakken_Formation
Video on Energy-Return-Over-Invested: http://www.youtube.com/watch?v=ztgz-QOOrs8
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Commentary pointing out that hemp can be used for fuel, which would solve the US’s dependence on crude oil.
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Some comments I have on adaption methods I’ve heard in response to a near term peak in global oil production.
Upon review this video is of rather poor video/audio quality – if you would like to see any of my references please message me directly. I’ll make improvements for the future.
Duration : 0:8:53
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Chapter 17a – Peak Oil (1 of 2): Energy is the lifeblood of any economy and a steady supply of energy is necessary to maintain the status quo, while an ever-increasing supply is needed to grow an economy. In this chapter, Dr. Chris Martenson explains that Peak Oil is not a theory, rather it is a description of how oil production increases over time, reaches a peak, then declines. Evidence points to a global production peak in the near future, which is troubling since the U.S. imports two-thirds of its oil and relies on it to much of its transportation and food production needs.
http://www.chrismartenson.com
Duration : 0:7:55
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Chapter 17a – Peak Oil (2 of 2): Energy is the lifeblood of any economy and a steady supply of energy is necessary to maintain the status quo, while an ever-increasing supply is needed to grow an economy. In this chapter, Dr. Chris Martenson explains that Peak Oil is not a theory, rather it is a description of how oil production increases over time, reaches a peak, then declines. Evidence points to a global production peak in the near future, which is troubling since the U.S. imports two-thirds of its oil and relies on it to much of its transportation and food production needs.
http://www.chrismartenson.com
Duration : 0:10:6
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175-315 Billion barrels of oil are recoverable at $15 a barrel in the Oil Sands of Alberta, Canada. With a remaining potential of 1.7-2.5 Trillion barrels using advanced recovery techniques. Who knows what they’ll discover tomorrow, but we know today, that in Canada’s oil sands alone, the supplies will last over 100 years.
MYTH: The World Is Running Out of Oil (ABC News)
http://abcnews.go.com/2020/Stossel/story?id=1954572
Alberta’s Oil Sands: Facts and stats (Government of Alberta)
http://oilsands.alberta.ca/519.cfm
Analysis: Nuclear-powered oil sands (The Earth Times)
http://www.earthtimes.org/articles/show/46143.html
Oil sands cleanup (Financial Post, Canada)
http://tinyurl.com/6z83dh
Despite Popular Belief, The World is Not Running Out of Oil, Scientist Says (University of Washington)
http://uwnews.org/article.asp?articleid=27554
Its a myth that the worlds oil is running out (The Times, UK)
http://business.timesonline.co.uk/tol/business/columnists/article3823656.ece
Oil, Oil Everywhere… (The Wall Street Journal)
http://www.opinionjournal.com/extra/?id=110006228
Oil Innovations Pump New Life Into Old Wells (The New York Times)
http://www.nytimes.com/2007/03/05/business/05oil1.html
Oil: Never Cry Wolf—Why the Petroleum Age Is Far from over (Science)
http://www.sciencemag.org/cgi/content/summary/sci;304/5674/1114
The World Has Plenty of Oil (The Wall Street Journal)
http://online.wsj.com/public/article_print/SB120459389654809159.html
Thermodynamics and Money (Peter Huber, Ph.D. Mechanical Engineering, MIT)
http://www.forbes.com/free_forbes/2005/1031/122.html
The economic value of energy just doesn’t depend very strongly on raw energy content as conventionally measured in British thermal units. Instead it’s determined mainly by the distance between the BTUs and where you need them, and how densely the BTUs are packed into pounds of stuff you’ve got to move, and by the quality of the technology at hand to move, concentrate, refine and burn those BTUs, and by how your neighbors feel about carbon, uranium and windmills. In this entropic universe we occupy, the production of one unit of high-grade energy always requires more than one unit of low-grade energy at the outset. There are no exceptions. Put another way, Eroei–a sophomoric form of thermodynamic accounting–is always negative and always irrelevant. “Matter-energy” constraints count for nothing. The “monetary culture” still rules.
Additional U.S. Oil Reserves:
- 1.8 to 6 Trillion barrels of oil are estimated in the U.S. Oil-Shale Reserves (DOE)
- 986 Billion barrels of oil are estimated using Coal-to-liquids (CTL) conversion of U.S. Coal Reserves (DOE)
- 100 Billion barrels of heavy oil are estimated in the U.S. (DOE)
- 90 Billion barrels of oil are estimated in the Arctic (USGS)
- 89 Billion barrels of immobile oil are estimated recoverable using CO2 injection in the U.S. (DOE)
- 86 Billion barrels of oil are estimated in the U.S. Outer Continental Shelf (MMS)
- 60 to 80 Billion barrels of oil are estimated in U.S. Tar Sands (DOE)
- 32 Billion barrels of oil are estimated in ANWR, NPRA and the Central North Slope in Alaska (USGS)
- 4.3 Billion (167 Billion potential) barrels of oil are estimated in the U.S. Bakken shale formation in North Dakota and Montana (USGS)
- 3.65 Billion barrels of oil are estimated in the U.S. Devonian-Mississippian Bakken Formation (USGS)
- 1.6 Billion barrels of oil are estimated in the U.S. Eastern Great Basin Province (USGS)
- 1.3 Billion barrels of oil are estimated in the U.S. Permian Basin Province (USGS)
- 1.1 Billion barrels of oil are estimated in the U.S. Powder River Basin Province (USGS)
- 990 Million barrels of oil are estimated in the U.S. Portion of the Michigan Basin (USGS)
- 393 Million barrels of oil are estimated in the U.S. San Joaquin Basin Province of California (USGS)
- 214 Million barrels of oil are estimated in the U.S. Illinois Basin (USGS)
- 172 Million barrels of oil are estimated in the U.S. Yukon Flats of East-Central Alaska (USGS)
- 131 Million barrels of oil are estimated in the U.S. Southwestern Wyoming Province (USGS)
- 109 Million barrels of oil are estimated in the U.S. Montana Thrust Belt Province (USGS)
- 104 Million barrels of oil are estimated in the U.S. Denver Basin Province (USGS)
- 98.5 Million barrels of oil are estimated in the U.S. Bend Arch-Fort Worth Basin Province (USGS)
- 94 Million barrels of oil are estimated in the U.S. Hanna, Laramie, Shirley Basins Province (USGS)
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