Think so still? Or is this old news?

http://www.usgs.gov/newsroom/article.asp?ID=1911

acoording to this website.... we use 19.6 milion per day.

thats 7154 million per year.... or 7.154 billion per year.

To answer your question: yes. Only a matter of time, though it seems we are finding technology to delay it a bit.

__________________
TC
Current stable:
- 2004 Mazda RALLYWANKEL
- 2007 Saturn sky redline
- 2004 Explorer...under surgery.

Past: 135i, GTI, 300E, 300SD, 300SD, Stealth

IMO, there will be "cheap oil shortages" long before there are "oil shortages."

Really depends how quickly technology can keep up with our increasingly limited resources. Take for example the oil trapped in Alaskan/Canadian tundra, now it is beginning to be more financially viable thanks to tech development.

__________________
TC
Current stable:
- 2004 Mazda RALLYWANKEL
- 2007 Saturn sky redline
- 2004 Explorer...under surgery.

Past: 135i, GTI, 300E, 300SD, 300SD, Stealth

The only thing that will drive the required technology is profit, and it's not going to happen with $60 or 80/barrel oil. When oil gets up to a reasonable price, there will be incentive to deploy these technologies.

You can make oil out of soybeans. You can always grow more. Fossil oil, you can't make more. But there will always be some around for some price, like whale oil. But who buys it anymore?

__________________
1998 C230 330,000 miles (currently dead of second failed EIS, yours will fail too, turning you into the dealer's personal human cash machine)
1988 F150 144,000 miles (leaks all the colors of the rainbow)
Previous stars: 1981 Brava 210,000 miles, 1978 128 150,000 miles, 1977 B200 Van 175,000 miles, 1972 Vega (great, if rusty, car), 1972 Celica, 1986.5 Supra

The Bakken wells are 7-10 million bucks each... do the math. Need a lot of oil to make them pay out.

The reserves reported by US oil companies follow SEC guidelines, and the SEC is VERY tough on claiming too much. Why would you claim too much? Management bonus thats why. The SEC rules are stringent and their philosophy is they want all future revisions in reserves to be UPWARDS. Result is new discoveries end up being understated until an area is developed.

__________________
MB-less

Guests

Steve Anderson
Retired Brigadier General, US Army
Senior Logistician under General Petraeus, Iraq
Chief Operating Officer, Synovision Solutions LLC
Arlington, Virginia

Ray Mabus
Secretary of the Navy
Former Governor, Mississippi
Former Ambassador, Saudi Arabia
Washington, DC


http://public.npr.org/anon.npr-mp3/npr/totn/2010/12/20101203_totn_02.mp3?_kip_ipx=1489819001-1291701912

__________________
'84 300SD sold
124.128

Yes I know there is going to be an oil shortage.

The world now uses approximatly 32 billion barrels of oil per year.

http://oildepletiondebate.blogspot.com/2008/02/at-1000-barrels-of-oil-per-second.html

The 4.3 billion barrels in your article will last about 2 1/2 months.

-----------
And Saudi Arabia is starting to drill for oil off shore.

Drilling off shore is way more expensive than conventional drilling.

If they are running out of oil, then we have defiantly passed the peak oil mark.

__________________

When the power of love overcomes the love of power the world will know peace.
Jimi Hendrix

Oil is just a cycle in the life on earth. In time we will all adjust to it not being a cheap commodity. All things are in short supply, just some are shorter than others.

__________________
Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

I'd rather get a hydrogen-based car than a battery-powered one.

Maybe one with a sail?

What would whunter do for a living? Sew sailcloth? replace mizzen masts?

__________________
Strelnik
Invest in America: Buy a Congressman!

1950 170SD
1951 Citroen 11BN
1953 Citroen 11BNF limo
1953 220a project
1959 180D
1960 190D
1960 Borgward Isabella TS 2dr
1983 240D daily driver
1983 380SL
1990 350SDL daily driver alt
3 x Citroen DS21M, down from 5
3 x Citroen 2CV, down from 6

I'm 41, and I've been hearing since the late 70s that we only have 20 years of oil left. Horse-poo. They keep finding more...

__________________
- Brian


1989 500SEL Euro
1966 250SE Cabriolet
1958 BMW Isetta 600

Agree that they can keep their hybrid battery junk.

I will just start growing an oil seed crop & make enough bio diesel for my own use.

Roy could take up bicycle repairs. Though like many of us on the wrong side of 50, I guess he will be in a nursing home by then. Maybe we will have diesel powered gophers to get around on.

__________________
Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

I get the feeling that the actual amount of oil left will have little to do with whether we can get it or not. I think it will be legislated away.

__________________
1992 W201 190E 1.8 171,000 km - Daily driver
1981 W123 300D ~ 100,000 miles / 160,000 km - project car stripped to the bone
1965 Land Rover Series 2a Station Wagon CIS recovery therapy!
1961 Volvo PV544 Bare metal rat rod-ish thing

I'm here to chat about cars and to help others - I'm not here "to always be right" like an internet warrior



Don't leave that there - I'll take it to bits!