You cannot reasonably discuss the depletion of oil reserves without also discussing the fact that we have the equivalent of trillions of bbls of oil that becomes viable at $30/bbl. Yes, it will take a lot of work to get at it,
As I've previously pointed out, production curves are a function not only of the available reserves, but also of the price of oil -- since higher oil prices make it economically feasible to extract oil that otherwise would not be extracted. As I've pointed out, I have royalty interests in wells that were P&A'ed years ago, where drilling is now underway solely because the oil is now worth going after where it wasn't at $20.
It doesn't take much to save a few gallons of gas a week...eg combine trips for errands. Truckers can easily save a couple of gallons a day and I think there about a million of them on the road... Exxon-Mobil has a quarter page ad in the Times offering ways to do it...
Perhaps, but realistically, the thing that makes the world go round is money. Now, there are treehuggers in San Fran who will go out and buy a Prius because it makes them cool. But most of the world isn't going to purchase hybrids, for example, until it makes economic sense to do so. That's just the way life is. The only thing that will encourage people to change their lifestyles in this way, or pay the premium for a hybrid, is for them to see how THEY, personally, are helped by it. |
