BLACK GOLD …
The world has approximately 1.7 trillion barrels of oil reserves “proved” or “discovered” as of the end of 2013, enough to satisfy global demand for the next 53 years, if current levels of extraction continue.
That’s a 1.1 percent increase from a year ago – and a 27 increase from a decade ago, according to data released by BP.
Each year, the global energy giant releases estimated ratios of “reserves-to-production,” or R/P – which is “the length of time that those remaining reserves would last if production were to continue at the previous year’s rate.”
Of course BP cautions that “nobody knows or can know how much oil exists under the earth’s surface or how much it will be possible to produce in the future.”
In other words, “exercise.” You may have to walk one day … although the window on oil production keeps lengthening.
Proven reserves in the United States totaled 44.2 billion barrels – a 26 percent increase from the previous report. That figure is also well above the latest government estimate of 33.4 billion barrels (which itself was a fifteen percent increase from the government’s previous guess).
To view the BP data for yourself, click here.
47 comments
Need to open more oil sources: It’s EXACTLY why we cannot afford to put Brad Hutto in the US senate. Graham is GREAT on this issue.
Americans are suffering under Horrible Energy costs because of Obama…
I’m a couple steps ahead of you FITS…AGAIN!!!
A vote for Ravenel is a vote for Obama, and more expensive gas…Not NO…but H#!! NO!!!!!
Great explanation: http://scdigest.blogspot.com/2014/07/a-vote-for-ravenel-is-vote-for-obama.html
Seriously Sic, can’t you make a ban exception, just this one time?
Heads are least useful, when they are buried up one’s @$$, like yours…
Open you mind. Read something more than liberal diatribe. Hitler would love a closed mind like yours. but we cannot afford anymore Dumb@$$, uneducated people. How do you think Obama got elected…????
How do I think Obama got elected? Easy, your party of idiots couldn’t find a goddamn person worth a shit to run against him…and 2016 looking like the same clown car is rolling up.
you got a point there………
And I ain’t no fan of Obama!!!!!
I was willing to give him a chance but when Geitner couldn’t even do his own fucking taxes and Obama didn’t fire him I said “that’s it for me”
Maybe Will can take a poll. GrandTango/Emily is nothing more than a troll who’s here to try and direct people to her blog which is an utter failure. She brings nothing to this blog.
Mob mentality is a poor method of achieving any kind of justice. Just ignore GT, make no response, and even if he/she/it doesn’t go away just don’t read or comment.
It’s a slippery slope and once started its only a matter of justification before more are cut out. Mr. Folks does a great job of letting people insult him and each other and I would really hate to see that altered at all. The real answer is quite simple, just ignore him/her/it. Him/her/it might not go away but its like the advertisements on this web site, you won’t notice him/her/it after a while.
Disqus does allow moderating comments.
http://blog.disqus.com/post/217536912/disqus-comments-moderating-comments-from-your-post
Props to Fits for being American in allowing adults to moderate themselves. When ten people tell you are drunk, lie down.
Go suck on a tailpipe already. You’re on everybody’s last nerve with your dumbass opinions and now you think anyone gives a shit about reading more of it on what you refer as a blog? Wigger please…
A click on that link is a click for Satan. Just say no to Meth GT, call Charter there’s hope.
There are some things beneath even Satan.
NatGas is more of a future than Oil. It should make everyone happy as it is much cheaper than gas or Diesel (Thanks Government) but has low carbon footprint ( your welcome tree huggers.)
True but isn’t fracking involved ?
Well, there goes that low carbon thingy…
I mean like burning water for the locals, and smells. Some people have had to move away !
“Peak Oil” — Just another phony-baloney, pseudo-scientific farce promoted by an industry bent on keeping the cost of their product artificially inflated. Imagine the geopolitical ramifications if it were common knowledge that the earth continually produces oil, and it has absolutely nothing to do with prehistoric plants or animals.
Imagine the geopolitical ramifications if it were common knowledge that
the earth continually produces oil, and it has absolutely nothing to do
with prehistoric plants or animals.
The abiotic oil theory is horseshit that the Soviets entertained briefly and nobody else takes very seriously at all. I fail to see how oil could naturally form beyond the rate of global consumption anyways.
So how much horseshit is on Saturn’s moon Titan that is gassing off all that methane?
Methane ain’t “oil.,” for starters, but there is abiotic methane, true, though perhaps not much still left here.
So methane, a hydrocarbon, can have an abiotic source, but oil, simply another form of hydrocarbon cannot? Why? Because it doesn’t fit your dystopian world-view?
but oil, simply another form of hydrocarbon cannot? Why? Because it doesn’t fit your dystopian world-view?
——-
That reminds me, I need to go set the sasquatch traps… There’s no reason they shouldn’t exist – people do.
Besides, I need the meat.
LOL! Sasquatch. Another excellent example of how gullible “scientists” can be.
Yeah.. Sasquatch… heh.
Heisenberg and Schrödinger are traveling in a car and pulled over by a cop. The officer asks, “Do you know how fast you were going?” Heisenberg replies “No, but I know where I am.” This arouses the officer’s suspicion, so he asks to check the trunk. He looks inside and asks “Are you aware there is a dead cat in your trunk?”, to which Schrödinger replies “I do now.”
Now that there’s funny!!!!!
The 13C/12C ratio for all petroleum on earth is similar to organic matter. On Titan the methane’s ratio looks like earth’s inorganic carbon. Thus NO evidence for outgassed cosmic methane from inside earth somehow forming petroleum.
Try again.
So methane, a hydrocarbon, can have an abiotic source, but oil, simply another form of hydrocarbon cannot? Why? Because it doesn’t fit your dystopian world-view?
“abiotic oil theory . . . nobody else takes very seriously at all”
.
I see Libertinearianistavists drag it up now and again. Why them I wonder?
I fail to see how oil could naturally form beyond the rate of global consumption anyways.
Sheeeet!
TBG doesn’t understand how a television set works, either.
The Amazon and Arctic Circle, including massive square mile tracts off South Africa leading to the Antarctic Circle is not counted. Not to mention abiotic oil, we begin to see a real global strategy to power based on the artificial “shortage” of oil and gas. On one side is the BRICS atheist satanists, the other side occupied by Osiris satanists. Everyone else is part of their problem to control the planet and expendable. See Carroll Quigley.
Our square miles are bigger than your square miles!
(It’s OK, I know; it just looked funny at first.)
Oh, like *you* never write a sentence that makes a pretzel look like a peanut.
Some of my posts begin as a rough draft. Due to originality and solid fact based conclusions, putting the main ideas down is the main battle. I go back and edit them later which is no big deal yet very important to earn credibility.
And you cannot even see the fourth-dimension twists and contortions.
Well… that may be…
But at least *I* don’t have any trouble cultivating Claviceps purpurea!
Truth be told, the US has discovered a massive 200 years of oil supply in Alaska’s North Slope. TPTB are not touching it until they play out the Arab Petro Dollar Card?
Those massive natural gas reserves off the Carolina coasts? They are now declared undrillable as, *poof*, the reserves now sit under critical Loggerhead Turtle habitat.
South Africa grew by 1.3 million square miles. This unprecedented land grab was not for a Loggerhead habitat. There is oil there.
All told, we are all being held by the nose and kicked in the ass by US oil concerns regarding our energy dependence.
An Atheist Satanist? huh?
Scientific predictions for “Peak Oil” have been wrong, but their predictions for “Climate Change” are right. Right?
An oil company pretending peak oil don’t real, only feels?
By saying peak oil doesn’t exist, they are effectively promoting (1) oil consumption to continue at the same rate so their profits continue to soar, (2) forgoing regulations to decrease consumption of fossil fuels and/or decrease CO2 emissions, and (3) to placate worried shareholders. They literally have a vested interest in denying that peak oil exists, just like they have a vested interest in funding scientists who deny global warming.
BP sells their petroleum with a free bottle of snake oil, what a surprise!
Why not propose nationalizing US fossil fuels? Might lower taxes and have enough left over for those safety nets and a kick ass military,
That worked so well for Venezuela.
It works in Russia and China, though.
I remember the alarmists saying in the early 70s that we would be out of oil by now.
I remember the alarmists in the 70s saying North America would be a sheet of ice by now.
I try not to get too concerned by he alarmists, they are trying to set back our standard of living for no good reason than they believe they know better what is good for me than I do.
I think peak oil is real. I also think there’s still a vast amount left with still many untapped fields. Still … it would be prudent to continue developing alternatives.
I work for a company that has top of the line hybrid cars. No BS about it, 52 mpg. I have never had a complaint about them. Other than they get towed in because the owner forgot to put gas in at the proper time.
My 1994 Honda Civic EX regularly got 40-42 MPG. But nobody really cared because gas was $1.50 / gallon. 20 years later, the same car is advertised to get 22/31 mpg. Ahhh technology.
LOL….LOL…….just look at this comment section.
No wonder the Sunni (Republican) and Shia (Democrats) are at each others throats…!!!