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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (392259)6/19/2008 12:03:00 AM
From: d[-_-]b  Read Replies (1) of 1577174
 
At present rates of production (which continue to drop despite heavy drilling) we effectively run out of domestic oil in 2030 or so.


You are neglecting to include the increase in reserves simply due the rise in oil prices - reserves are estimated based on the economics of known recoverable oil and given the rising prices lately, oil that was marginal at $40 per barrel is magically recoverable at $135. Of course you can't do that forever either - but it may extend the date a decade or so - assuming no increase in consumption rates, more if we begin to shift to alternatives.
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