17-03-2005 23:46									#61
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I'll ask again. How do the oil reserves in Alberta compare to annual consumption in North America?????

Asmodean (who wonders if he has become invisible)

	17-03-2005 23:47									#62
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quote: Originally posted by Asmodean I'll ask again. How do the oil reserves in Alberta compare to annual consumption in North America????? Asmodean (who wonders if he has become invisible)

it's not cut and paste friendly... so you'll have to visit the site http://www.eia.doe.gov/emeu/interna...IntlConsumption

	17-03-2005 23:48									#63
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oops that's the international version... hold on

	17-03-2005 23:49									#64
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Well, the "problem" is only a problem, inasmuch as it has political consequences. Likewise, a nuke plant is environmentally friendly, but it has more of an environmental "problem" due to screwed up NIMBY politics.

	18-03-2005 02:26									#65
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Oh God...the Albertans are going to be even more insufferable for a while...

I wonder how much of that oil wealth actually trickles down to the average boob in the form of roads, schools, hospitals, welfare, job training, etc? Probably just drives up prices.

	18-03-2005 02:48									#66
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quote: Originally posted by Seeker Oh God...the Albertans are going to be even more insufferable for a while... I wonder how much of that oil wealth actually trickles down to the average boob in the form of roads, schools, hospitals, welfare, job training, etc? Probably just drives up prices.

It makes up a large portion of the budget, and usually went into paying down the debt (= less overhead), and stuff like elimination of sales tax. So the average boob saves money.

Plus Ralphie has been spending it in diversification -- IE, the ACCESS program that doubled the number of CompSci positions at the UofC, the recruiting of world-class cryptography researchers, etc.

	18-03-2005 02:49									#67
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quote: Originally posted by Asher In 2003, 174.5 billion barrels known in established reserves of the oil sands alone.

Oh, good, enough for China and India.

I can just see it, Edmonton and Calgary's immense future Chinatowns.....

	18-03-2005 02:52									#68
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quote: Originally posted by Seeker Oh God...the Albertans are going to be even more insufferable for a while... I wonder how much of that oil wealth actually trickles down to the average boob in the form of roads, schools, hospitals, welfare, job training, etc? Probably just drives up prices.

Lots trickle down-- Calgary and Fort mcMurray are full of people in jobs that pay well and the spinoff is incredible

	18-03-2005 02:56									#69
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quote: Originally posted by Kidicious Drilling in Alaska won't decrease the price of oil one penny. That you can be sure off.

Short term . . absolutely correct. The reality is that the oil companies have very little certainty as to how much economically recoverable oil there is in the Alaska reserve. It is a very expensive area to transport to market so only larger finds are worthwhile.

Considering that we are probably talking a minimum of 5 years before any oil from this area hits market ( and likely longer) the short term price impact will be minimal.


Longer term, who knows?? It will be impossible to measure in any event since so many other things will that impact price will change as well

	18-03-2005 03:00									#70
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Price is going up because demand is jumping. Unless there is some massive depression, oil demand will continue to grow, with Asia leading the way. If lots of oil is found in Alaska, and the Canada tar sands become viable, expect most of that oil heading west to the far east.

	18-03-2005 03:08									#71
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quote: Originally posted by GePap If lots of oil is found in Alaska, and the Canada tar sands become viable,

Strange the thousands of people working the tar sands tend to think they are "viable" now

I know what you mean though. Even if more of the various oilsands are exploited, increasing demand can swallow up all the increased production


Ahhh its a great time to be in the oil industry

	18-03-2005 03:13									#72
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quote: Originally posted by DanS Asher's graphic is more than a little misleading. We don't know how much oil sands are available, but it's a whole lot. Also, in the US, we have a whole lot of oil shale (similar to oil sands) that remains untapped. The "problem" with both oil sands and oil shale is that extraction is rather environmentally unfriendly. Very much like strip mining for coal. The reason Alberta can get away with it politically is because nobody lives in vast stretches of Alberta.

also its not the light sweet crude for the shale. The sands though are a little better about that. Still when someone figures it out, there's 500 years worth of oil in the shale.

	18-03-2005 08:08									#73
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quote: Originally posted by GePap Oh, good, enough for China and India. I can just see it, Edmonton and Calgary's immense future Chinatowns.....

Go to NE Calgary if you want Indians, and NW Calgary if you want Chinese.

I was a minority in my NW Calgary HS as a white guy.

	18-03-2005 08:40									#74
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quote: Originally posted by Kidicious Increases in oil prices is like a tax.

ZOMFG! If you don't buy your quota of oil today, the IRS will audit you!

	18-03-2005 08:40									#75
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quote: Originally posted by Sava I just don't get you lately Kid. You aren't making sense.

He's never made sense. You just didn't start actually analyzing his posts until lately.

	18-03-2005 08:42									#76
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quote: Originally posted by Sava I think the fact that we have to drill in the bottom of the Gulf, and other bodies of water, plus the fact we have to drill in remote areas of the world is proof that there is probably less oil out there than most would like to admit.

I think it says more about tectonics and geology.

	18-03-2005 08:43									#77
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quote: Originally posted by Odin I have heard many estimates, but my gut feeling is that we will have peak oil between 2020 and 2030.

Based on your extensive experience in this field?

My gut feeling is we'll have FTL travel by 2100.

	18-03-2005 08:45									#78
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quote: Originally posted by Kuciwalker I think it says more about tectonics and geology.

Our points are mutually exclusive?

	18-03-2005 08:48									#79
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The reason we go to such remote places is because oil tends to BE there due to various geological reasons that have nothing to do with having used up the vast reserves under less remote places like NYC...

	18-03-2005 08:51									#80
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quote: Originally posted by Kuciwalker The reason we go to such remote places is because oil tends to BE there due to various geological reasons that have nothing to do with having used up the vast reserves under less remote places like NYC...

one problem with your thinking though... there WAS a lot of oil in United States, especially in Texas. Not so anymore.

	18-03-2005 08:51									#81
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Funny how Alberta is behaving like a third world country with its resource based economy.

Klein is the Chavez of the North.

	18-03-2005 08:53									#82
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quote: Originally posted by Sava one problem with your thinking though... there WAS a lot of oil in United States, especially in Texas. Not so anymore.

Eh, there still is oil under Texas. However, in the 19th century it wasn't exactly practical to get oil from, say, the North Sea.

	18-03-2005 08:55									#83
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quote: Originally posted by Kuciwalker However, in the 19th century it wasn't exactly practical to get oil from, say, the North Sea.

Thanks for helping me prove my point. There's still oil there because we haven't been able to get at it.

	18-03-2005 08:56									#84
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All you've demonstrated is we used the really easy oil first...

	18-03-2005 09:00									#85
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quote: Originally posted by Kuciwalker All you've demonstrated is we used the really easy oil first...

the difficulty of getting the oil is immaterial to this discussion...

but let me ask you a question... if the easy oil is used first, then there only must be difficult oil left... what happens after the difficult oil?

	18-03-2005 09:10									#86
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quote: Originally posted by Kuciwalker All you've demonstrated is we used the really easy oil first...

I can confirm this. Through the 1980s, oil wells were drilled in the Midwest only to about 3,500 feet to the Clinton sands. Not much exploration has occurred below that because the price of oil has been so low in the meantime. But in many spots, they expect substantial amounts of oil (at least for the Midwest) in the Rose Run sands of about 5,500 to 7,000 feet. It's just more expensive to drill the Rose Run, so fewer people have tried.

	18-03-2005 18:56									#87
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The recent news of OPEC losing control of prices for the first time has made me concerned about this looming Peak Oil disaster.

http://www.msnbc.msn.com/id/7190109

Will the economy truly be able to switch to alternative fuels in time to prevent total depression? What fuels will we use to process alternative energy sources like hydrogen? Why don't we have access to solid data concerning the plight of Peak Oil? Gut feelings and bets are not really soothing my fears. Everything from food production, transport and manufacturing depends on oil like a junkie depends on their next hit. This issue is more severe than merely using a fuel cell bike to drive to work, over a Humvee.

	18-03-2005 19:47									#88
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Increasing Asian (expecially Chinese) demand is the driving force for all of this. There are vast quantities of natural gas and oil that have not been exploited because the cost has been too high. When price reaches the appropriate level, those sources will be tapped. Published oil reserves only count those sources that are economically viable at the current price at the time of the reserve estimate (except in cases like Royal Dutch Shell where they purposely overestimated reserves to increase their share value).

	18-03-2005 20:26									#89
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quote: has made me concerned about this looming Peak Oil disaster

God, this is like some crazy cult waiting on the beach for the apocalypse.

At least the Dow 30,000 folks glom on to something positive.

	18-03-2005 21:07									#90
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The world economy has grown but not at some astronomical rate. I think it's just that the supply of oil just isn't going to be enough anymore. Maybe there will be alternative fuels that will make a difference when prices get high enough, or maybe not. Even if there is what will happen to the economy before then? Is oil going up to $80/barrel or higher?