Wednesday, September 13, 2006

Is the oil well half-full or half-empty?

Saudi Arabia is predicting that world oil reserves will continue to increase in coming years, discrediting the theory that "peak oil" production has already been reached. The CEO of Aramco estimates enough oil for more 140 years at current production levels. After that time, we better have developed practical solar, wind, ocean, fusion, or fission power sources.

UPDATE: A University of Washington economic geologist, Eric Cheney, claims that there is lots of oil left.

UPDATE II: Cambridge Energy Research Associates, Inc. also disputes the peak oil theory.

1 comment:

PeakEngineer said...

You're right, whether 140 years or 140 days, we don't have a spectacularly long time to wean ourselves on to new energy sources. The sooner we start developing solutions for ourselves, the better.

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