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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (105711)	7/16/2003 7:42:21 AM
From: Dennis O'Bell	Respond to of 281500

Carl, 38 billion barrels at 70 million barrels a day is 500 days or 1.5 years give or take a bit. That's quite an addition to the energy supply. A bit more than 6 months. Let the calendar year contain 1000 days....

To: Maurice Winn who wrote (105711)	7/16/2003 8:12:28 AM
From: Sig	Respond to of 281500

<<Carl, 38 billion barrels at 70 million barrels a day is 500 days or 1.5 years give or take a bit. That's quite an addition to the energy supply. A bit more than 6 months. I doubt that oil will get much more expensive than it is. Alternatives come on stream at $30 a barrel [coal, heavy crudes etc]. At $40 a barrel oil will lose market share in a big way. At $50 a barrel, all sorts of things happen. At $60 a barrel oil will be struggling for a piece of the action. >>> Energy costs to the consumer depends a great deal on politics, since once connected to the grid, or having bought a car we are stuck with the bill as in having to pay the phone or heating gas company each month Have little voice in combating excessive charges. Here Canada has 1.3 tril barrels equivalent oil reserve that is little used because of the cost of extraction.( One trillion more than all US reserves) But it is being mined, and a company is drilling for oil underneath the shale deposits. <<<http://www.apioil.net/s/Athabasca_Main.asp>>> <<< The Athabasca Tar Sands deposit is one of the largest accumulations of petroleum on earth, some 1.3 trillion barrels , and covers an area of 28,000 square kilometers.>>> As you note, the world is not going to run out of petroleum reserves (plenty of natural gas around to be converted to liquid fuel also) , and at each price increase the alternate sources become more feasible to tap Sig@benicetocanadians.com