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Oil resources to end in 53.3 years according to BP

Discussion in 'Energy, Environment, and Policy' started by hileyms, Jul 3, 2014.

  1. hileyms

    hileyms Member

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    A study issued by BP says the world's oil resources will end in 53.3 years based on the current extraction rate (this is 1.1% higher than last year). It does not say if this is based on current usage rate but I would assume so. :wink:

    Oil resources to end in 53.3 years according to BP
     
  2. Raffy.Roma

    Raffy.Roma Active Member

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    According to the studies that I did if all the Oil resources will be burnt something like what is shown in this video will happen:

    Last Hours - YouTube

    And it will not be a good thing for the Earth. Believe me.
     
  3. CHGolferJim

    CHGolferJim Member

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    People have been saying we will run out of oil for quite a long time.
     
  4. Doug_G

    Doug_G Lead Moderator

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    We won't "run out of oil"; it will simply become more and more uneconomical to extract, and the rate of production will inevitably fall below demand. When that happens the economic impacts will be very serious. Oil prices will fluctuate wildly as the economy crashes, demand falls, economy starts to recover, oil price spikes, and lather, rinse, repeat.
     
  5. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    How convenient. It's just about the time I expect to die. Well, I'm sure my kids will worry about it.

    Humor-impaired: Joke to me, reality for most politicians on both sides of the aisle.
     
  6. Raffy.Roma

    Raffy.Roma Active Member

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    #6 Raffy.Roma, Jul 3, 2014
    Last edited: Jul 3, 2014
    IMO main issue will not be of economical kind. Today CO2 concentration in the atmosphere is 400 ppm. In 2050 in the best case such a concentration will be 450 ppm but it could also be 550 ppm. If in 2100 CO2 concentration in the atmosphere will be 650 ppm corresponding to an increase ot the Temperature Anomaly of 6 degree Celsius what is shown in the video that I posted above will happen. :scared:
     
  7. RichardC

    RichardC Cdn Sig & Solar Supporter

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  8. ZsoZso

    ZsoZso Member

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    The stone-age did not end because we ran out of stones...
     
  9. CHGolferJim

    CHGolferJim Member

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    BTW, good op-ed from Henry Paulson in NYT the other day about carbon tax and his current work.
     

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