Long term future of aviation >>Because consumers keep sucking it up like there's a never ending supply.
>>The U.S. consumes millions and millions and MILLIONS of barrels a DAY.
>>Other than that, yeah, sure, it's gonna last forever.
> Are you reading what I wrote, my statement was refuting that the Oil
> would run out in "a few decades" - can you please explain why you feel
> that there are only a few decades supply of oil. Even at hefty
> increase in consumption, and no more oil found, current reserves are
> sufficient for many more than "a few decades". There's no desperate
> shortage of oil for air travel.
> Yes, we need to address oil reliance over the longer term, but to talk
> of few decades is misleading.
The supply of oil is an estimated, and also an unknown, quantity. Some of
you may recall that during the oil embargo of the early 70s the front range
of Colorado was opened for shale oil extraction. But the procedure only made
economic sense when the barrel price of oil went above (IIRC) $42. Steam
extraction (injecting steam into old wells to pump up the tar oil) is also
only profitable when oil barrel prices are on the high side.
Both situations are not lost on OPEC. Who recognize that when the oil
price climbs too high, petroleum products will be extracted via steam and
shale oil (or coal) processing. In addition, advances in related technologies
is lowering the cost for this oil extraction, particularly for shale oil.
Alternate energy sources may eventually lower the excessive petroleum
thirst of first world nations. Although at this time such technology
advances appear too closely tied to petroleum pricing. With the push for
alternate fuels only given a priority when petroleum pricing is favorable
for this research.
More than 60 years ago Germany was able to produce synthetic fuel from
anthracite coal with the Potts-Broche process. Newer technology can now
produce fuel from coal through a procedure which uses a mixture of solvents
combined with hydrogen gas. Which is worth noting only in reference to the
fact that North America has by far the largest amount of the worlds coal
reserves.
The issue may be stated not as running out of oil, but running out of
oil that can be extracted and profitable at less than $30 or $40 per
barrel. |