[thegreatestgeneration]

There sure seems to be plenty of oil. What we need are refineries.

Huh? Are you kidding? That's just the problem - there is not "plenty of oil" left at all. In fact there really isn't much more than 50 years worth by many estimates. And that includes drilling in ANWR and everywhere else. It's going to run out someday, and that day is fast approaching.

[RightWhale]

It's going to run out someday, and that day is fast approaching.

It won't run out all that fast. It's at peak production right now so it isn't going to suddenly stop now. The cost will rise and rise until it is no longer a resource. Then it will be over even if it hasn't run out.

[knarf]

"Huh? Are you kidding? That's just the problem - there is not "plenty of oil" left at all. In fact there really isn't much more than 50 years worth by many estimates"

... and by just as "many", if not more than ... there is plenty of oil.

So I'm not an oil man, nor play one on TV, but I've chosen to believe the ones that say there is, rather than the ones that say there isn't.

Pretty much the same as Gorebull warming, eh?

I wonder if this 'information highway' thing is such a great idea.

I can't remember ever having so many bullets to believe/disbelieve in my life .. ever .. until I turned on my computer in 1998.

There does seem to be a trend ... That for every thesis there is an equal and opposite anti-thesis, and the theory of synthesis is yet to be proven.

[thackney]

In 1980 those estimates said we had 27 years left.

In 1990 those estimates said we had 41 years left.

In 2000 those estimates said we had 36 years left.

In 2005 those estimates said we had 41 years left.

In 2007 those estimates said we had 43 years left.

On average, the petroleum industry meets the rising demand and still adds more to the proved reserves.

http://www.eia.doe.gov/pub/international/iealf/crudeoilreserves.xls

http://www.eia.doe.gov/emeu/ipsr/t44.xls

Proved reserves are only based upon fields that have been flow tested. Areas known to contain oil but not drilled, like ANWR and most of NPRA for example are not counted in the total.

Now add those others plus oil shale, coal-to-liquid, gas-to-liquid and methane hydrates to our supplies.

Still think we won’t use liquid petroleum in 50 years? I’m not claiming it will be cheap, but I suspect it will still be the largest source of world energy.

[AmericaUnited]

That's just the problem - there is not "plenty of oil" left at all. In fact there really isn't much more than 50 years worth by many estimates

Good God! Have you lived in a cave the LAST 50 years?! 50 years from now, we'll have micro size nuclear reactors powering our homes and cars. Devices will use micro fractions of the energy they use today. You'll say "oil" and kids will say "Huh? What's that grampa?"

Wake Up and smell the advancing technology.