Title:
Myth: The World is Running Out of Oil

Description:
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 (Science Daily) http://www.sciencedaily.com/releases/2006/10/061019162104.htm 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.energybulletin.net/node/347 The World Has Plenty of Oil (The Wall Street Journal) http://online.wsj.com/public/article_print/SB120459389654809159.html Energy Efficiency of Strategic Unconventional Resources (DOE) http://www.fossil.energy.gov/programs/reserves/npr/Energy_Efficiency_Fact_Sheet.pdf 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. Thermodynamics and Money (Peter Huber, Ph.D. Mechanical Engineering, MIT) http://www.forbes.com/free_forbes/2005/1031/122.html 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)

Author:
populartechnology

Tags:
Alberta, Canada, Energy, Gas, Hydrocarbon, John, Myth, Oil, Peak, Petroleum, Sands, Stossel, Tar,