Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: mistermj who wrote (176060)	11/28/2005 9:55:15 AM
From: Noel de Leon	Read Replies (1) \| Respond to of 281500

Let's look at the numbers from your source: 600 billion extracted barrels available from Venezuela and Canada. World consumption today: 90 Mbpd. World demand in 2025 120 Mbpd. averaged over 20 years is 105 Mbpd. 600,000/(105x365)=600,000/38,325=15-16 years consumption and oil from Venezuela and Canada is gone and oil from ME is still on it's way towards depletion. So this oil may be able to,at present consumption levels, alleviate the supply problem for 15 years assuming that this supply increases from 0.2 Mbpd to 105. But at what price? $15 per barrel today. Arab oil costs $3 today and they get $60. Do you think Suncor will take less? Probably more. They have to get a return on the capital investment to increase capacity 500 times. And then what after 15 years? "Oil Sands are ramping up nicely and showing proof of the business model." Yes, they've believed in oil peak for a while.