The Worlds Oil Resources
 

Ok, this is just an idea I have had floating around my consciousness for a long time so bear with me...

I think that a long term strategic advantage is for the US to use and obtain oil from the whole world, not the US. Pick any place with known reserves. I think there is a plan to sit back just use all the worlds oil until those reserves begin to get used up no matter how painful to the economy. Eventually if we obtain all of our oil from other sources, in say 150 years or so, we have not used any of our sources we will end up with the power and the remaining sources of oil. We stopped pumping in the midwest, Texas, Ok, etc. We have not tapped much of Alaska, and we most likely have huge resources just off much of our coast line. If we wait it out we will own much of the remaining sources.

Thoughts? Facts please...

So we may be the Mid-East's bitch today; but tomorrow it will be a different tune? Interesting idea.

I know from experience (my family drills for oil) that our government makes it unprofitable to drill here, unless we need a quick fix. After which, they regulate us back out of business. Right now, oil is profitable for the first time I can remember since the big-time 80s.

yea, it is just a thought I have had for about 15 years or so... I grew up in Ok, and some of my earliest memories are of the big grass hoppers pumping all night long, every where you drove you would see them. They were on the playgrounds at schools, in the middle of the mall parking lots, everywhere. Now they are all pretty much off. The wells were capped and cemented shut. I think it would be cheap to start them again if we needed to, cheaper than drilling a new well, I don't really know, just thinking out loud.

http://www1.istockphoto.com/file_thu...a_oil_pump.jpg

I had worked in, around the oil field all my working life.
When they deregulated natural gas, they drilled pasted oil to get gas. They didn't even put the equipment on offshore platforms to get the oil out. Just gave it away. I saw some figures years back, where they submitted a form to Gov. About the loss they would have incurred if the shut the platform down fro each 12 shift while we were welding.
I wish I had taken a copy of that paper, but the guy who showed it to me was a friend. And I made a joke about selling it to TV.

Anyone wanting links to oil things, I might have them.

I would like to see if there is any data on what the estimated oil reserves are in the Middle East and aprox how long those are expected to last in years. Same for Africa. Russian fields are a bit newer and I believe there would be less data available for obvious reasons.

Dig around HERE. More than ya ever wanted to know. rigzone.com.

I could be completely wrong about this but I figure we won't be using oil one hundred years from now. Science is moving so fast its just unbelievable.

Somebody already figured out how to combine aluminum pellets with gallium to create hydrogen on the fly. I heard it on the radio (news) so can't share a link.

We'll probably have plasma baby milk warmers by the time the next century rolls around.

Besides, oil so so eighties. :right:

We won't drain the world of oil, just stop using it when it become unprofitable.

I don't think that would happen because those reserves are pretty small and by that time it would be unprofitable to drill for oil anymore and alternative fuels will already be in use.

Do you truly think there's no end to oil?

The thing with oil reserves is that the deeper you go, the harder and more expensive it is to get the oil out. That means to get to the last drops of oil in a reserve, you would need to spend an extraordinary amount of money, which would not be worth it.

Supply and demand has a part in it as well. As oil become scarcer, the price will go up. When the price of oil is equal to the price of alternative fuels, we will switch to alternative fuels.

So yes, I truly think there's no end to oil, only its usage.

That is right IMO. The economics of it drive it, no matter what else occurs. Canada's reserves in oil sands, will weigh against new technologies in batteries, will weigh against the price of tortillas in Mexico, will weigh against tricky oil futures in the M.E., will weigh against the sweeteners of Coca-cola, will weigh against the future of the Euro, will weigh against Britain's relationship with the US, will weigh against Sundae Girl's interest in telling us her best stories.

It all comes back to S.G.

Should that be considered a thread bomb or just a joke?:D

Have a look at the day rates for drilling rigs. Some are almost a quarter of mil a day.

DUH. What did my dumb ass miss? Clueless in Ms.