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New messages 1 Total messages 1291| Subject RE: Peak oil | ||||
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Author:
brisray Date: 01-10-2007 01:17 |
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This was talked about in our Social / General Studies school classes in the 1970's. Peak Oil Theory is pretty old and well known now, Peak Oil theory was appaently first put forward in 1956 - http://en.wikipedia.org/wiki/Hubbert_peak_theory
That page says that the peak will be reached around 2010, after which oil prices will rise as natural resources become exhausted. It isn't that simple to say wwhen reserves will run out. As scarcity makes it more economic to find and exploit new sources (like the shale oil in the US), and demand will fall as alternatives are found. There may be enough to last 500 years - but it will be expensive. Current reserves from current known sources will be depleted in about 100 years. Where I live (Terre Haute, Indiana) there are zillions of "nodding donkeys" in the fields around town extracting shallow oil reserves on a small scale and I expect there will be a larger number of these around the world as the massive oilfields come close to depletion and they become more economic. You can smell them even you cannot see them as crude oil has a very sweet smell because of its low sulphur content otherwise it would smell of rotten eggs. Inidana has also got the largest biofuel plant in the world opened just a couple of weeks ago. Indiana grows around 900 million bushels of corn and 300 of soy per year and the new plant is expected to use approx. 10% of the soy crop. Income from biofuel is expected to earn the state $160 million a year. 50 million gallons of biofuel can be made from 35 million bushels of soy. The planned output of the plant is 90 million gallons of biofuel per year. Indiana also produces around 200 million gallons of ethanol from corn per year. These figures are rounded, for actual figures read the sources. Sources: http://en.wikipedia.org/wiki/Oil_reserves http://en.wikipedia.org/wiki/Hubbert_peak_theory http://igs.indiana.edu/geology/coalOilGas/oilandgas/index.cfm http://www.peakoil.com/modules.php?name=News&file=article&sid=30673 http://peakoil.com/index.php http://www.indiana-biodiesel.com/faq.html http://biodiesel.rain-barrel.net/indiana-biodeisel/ http://www.ibrc.indiana.edu/IBR/2006/outlook/agriculture.html http://www.nuvo.net/articles/soy_is_growing/ Ray |
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