wizkids
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Detroit
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Message Posted: Jun 21, 2006 3:57:00 AM
Not sure ...
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PMedGuy
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Ontario
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Message Posted: Jun 20, 2006 11:49:07 AM
Yes
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twowheel
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Austin
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Message Posted: Jun 20, 2006 9:23:05 AM
Yes
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BenzineBoy
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Lansing
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Message Posted: Jun 9, 2006 6:38:41 AM
Yes, but reserves are not the problem. Production and distribution are not keeping pace with consumption. There are plenty of reserves for 100+ years.
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truckdude
Champion Author
Twin Cities
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Message Posted: May 27, 2006 7:40:33 AM
not sure-need to serious consider alternative energy now.
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PriceMonger
Champion Author
Milwaukee
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Message Posted: May 21, 2006 6:41:43 PM
yes
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throttle
Champion Author
Maryland
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Message Posted: May 21, 2006 5:55:07 PM
Yes, but look out for the prices.
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truckdude
Champion Author
Twin Cities
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Message Posted: May 1, 2006 5:48:48 AM
Not sure
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twowheel
Champion Author
Austin
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Message Posted: Apr 23, 2006 10:12:24 AM
yes, but not at a price everyone wishes
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gundam
Champion Author
Toronto
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Message Posted: Apr 18, 2006 5:14:54 AM
no, unless there is another recession coming
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knedwin
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Mobile
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Message Posted: Apr 17, 2006 9:46:51 PM
yes,,,
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racie17
Sophomore Author
Richmond
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Message Posted: Apr 17, 2006 5:58:53 AM
yes
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PriceMonger
Champion Author
Milwaukee
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Message Posted: Apr 12, 2006 8:23:23 AM
over by a small amount and short by a small amount depending on the current situation, but overall probably just enough. this is not because supplies will give us all we want but the cost will ultimitely reduce demand and the forcasted future usage will end up being lower than expected. When gas is 5 to 10 per gallon we will use less.
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thinkaboutit
All-Star Author
Colorado
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Message Posted: Apr 10, 2006 8:29:57 PM
World oil demand is expected to increase 1.5-1.7% per year. That means that in 10 years, todays demand of 85 million barrels per day would be up to 98 - 101 million barrels per day. This just won't happen, T. Boone Pickens said 90 million barrels per day will be tops. Where would the additional 10 million barrels per day (that is an additional "Saudi Arabia!") come from? Will we all collectively reduce consumption to accommodate this, or will we do nothing and resulting prices will have to go high enough to force such reduction in consumption?
Note: ANWR could contribute 1 million barrels per day -- but then there would be virtually no American oil left for our next generation, 8 billion gallons per year of ethanol currently being planned would add the equivalent of another 0.4 million barrels per day - when real shortages hit, this amount may double or even triple. Current US consumption is 21 million barrels per day, to increase to 25 million barrels per day in 10 years if it was business as usual. From its "vast" oil sand deposits, Canada might be able to export 2-3 million barrels per day, but not in 10, maybe in 20 years. And only if in the mean time natural gas does not suffer from acute shortages, why would one use it to cook motor fuels out of tar sands when it should be used to heat homes! And current North American resources will be down at least another 1 million barrels or more per day -- played out!
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knedwin
Veteran Author
Mobile
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Message Posted: Apr 10, 2006 6:30:06 PM
yes...
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truckdude
Champion Author
Twin Cities
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Message Posted: Apr 6, 2006 6:14:58 AM
Not sure, but I would assume yes
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Redstar5
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Baltimore
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Message Posted: Apr 5, 2006 12:06:55 PM
No. Oil supplies are currently peaking while demand is rising faster around the world. Prices will continue to rise while the oil companies drill in more extreme locations with smaller returns.
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Guido4
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Pensacola
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Message Posted: Apr 3, 2006 3:51:47 AM
No
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FourJs
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Montana
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Message Posted: Mar 24, 2006 12:09:25 PM
yes
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twowheel
Champion Author
Austin
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Message Posted: Mar 24, 2006 10:37:31 AM
Suppy and demand - there will always be world oil reserves at a price. The real question is whether we will like the price.
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FourJs
Veteran Author
Montana
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Message Posted: Mar 23, 2006 8:57:45 PM
Not sure but we'd best find ways to manage our OWN lives along the way rather than waiting for gov't or someone else to make those decisions for us. Make the necessary changes to they way we do things, travel, heat our homes. Becoming self-sufficent is key to a better future.
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YeLf
Rookie Author
Toronto
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Message Posted: Mar 23, 2006 8:54:52 PM
Oil reserves is not the problem here. The problem is NEW DISCOVERIES vs CONSUMPTION. In 2005 we consumed in the area of 50 billion barrels of oil, and discovered a whopping 5 billion new barrels in the ground.
This trend is not new, and it doesn't take long to figure out where it is taking us.
Secondly, OPEC/Oil companies have NOTHING to do with high oil prices. Anybody who thinks otherwise watches too much CNBC. It comes down to SUPPLY and DEMAND. DEMAND world wide is going UP, and SUPPLY is peaking. aka. PEAK OIL.
All this really means, is that oil prices will continue to rise, and that the era of cheap oil as we know it...is over.
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knedwin
Veteran Author
Mobile
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Message Posted: Mar 15, 2006 11:27:25 AM
not sure...
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truckdude
Champion Author
Twin Cities
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Message Posted: Mar 13, 2006 6:35:16 AM
I'm not sure, but I would hope so.
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bulldogfan
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Georgia
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Message Posted: Mar 9, 2006 12:24:54 PM
no
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LJGP_MO95
Sophomore Author
Missouri
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Message Posted: Mar 3, 2006 5:55:03 AM
No, the information I read says the Saudi's are just about at their max in production as are the rest of the producers. Demand isn't going down.
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jpflyer
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Austin
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Message Posted: Mar 3, 2006 4:57:10 AM
yes
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GreenLuminaAPV
Champion Author
Akron
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Message Posted: Mar 3, 2006 4:49:25 AM
no
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goldseeker
Champion Author
West Virginia
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Message Posted: Mar 3, 2006 4:09:44 AM
I doubt it. Let's face it, most of the worlds oil producers are at or near peak production.
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Cat 140H
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Saskatchewan
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Message Posted: Mar 2, 2006 3:05:38 AM
I think so
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cincindie
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Cincinnati
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Message Posted: Mar 2, 2006 3:01:28 AM
There are more than enough oil reserves in the ground. The problem would be getting it out economically.
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bulldogfan
Sophomore Author
Georgia
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Message Posted: Mar 1, 2006 6:59:09 PM
no
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CCrow
Champion Author
Chicago
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Message Posted: Feb 27, 2006 5:14:29 AM
Yes, but not much after that.
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yel
Rookie Author
Lexington
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Message Posted: Feb 26, 2006 1:59:04 PM
yes
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twowheel
Champion Author
Austin
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Message Posted: Feb 25, 2006 12:02:03 PM
Yes, but some will not like the price.
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goldseeker
Champion Author
West Virginia
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Message Posted: Feb 22, 2006 1:07:12 PM
Definitly not! In tens years time we will start to see the beginning of the end!
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trojanteacher67
Rookie Author
Kentucky
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Message Posted: Feb 22, 2006 5:32:07 AM
doubt it.
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jpflyer
Champion Author
Austin
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Message Posted: Feb 20, 2006 7:25:44 AM
yes
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2L82BB4U
Veteran Author
Las Vegas
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Message Posted: Feb 18, 2006 12:53:24 AM
No, unless alternative fuels become more mainstream, thus leaving more oil reserves for the rest of the world or other uses like heating.
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bcoste1
Rookie Author
Louisiana
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Message Posted: Feb 17, 2006 6:37:57 PM
Over the next 10 years, world oil reserves alone will not be enough to meet the world demand for energy. This is due mainly to the rapid growth in China and only if they continue on their current trajectory. The current trajectories in India and the US will also cause strain. We as a world need to reduce our consumption while finding alternatives to petroleum. Fortunately many countries, mainly in Europe, are building large-scale sustainable energy generation stations that use wind or solar. There is some work being done in California too, but most states will wait until it is too late, then they will do something.
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truckdude
Champion Author
Twin Cities
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Message Posted: Feb 17, 2006 6:00:58 AM
Not sure, but I hope so
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Gasinista
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Virginia
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Message Posted: Feb 11, 2006 2:07:19 PM
Not likely
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DADDYDOG
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Indianapolis
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Message Posted: Feb 7, 2006 5:24:03 AM
Probably not
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Guido4
Champion Author
Pensacola
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Message Posted: Feb 7, 2006 4:05:23 AM
Not Sure
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Alces
Champion Author
Newfoundland
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Message Posted: Jan 30, 2006 3:52:34 AM
Not sure
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DenverDonJuan
Champion Author
Denver
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Message Posted: Jan 29, 2006 10:58:29 PM
"Oil reserves" do not actually "meet the demand". "Extracted, refined and delivered petroleum" does meet demands. Unfortunately, we are at the mercy of OPEC and our Federal and State governments who can hold us hostage by controlling the flow of known oil reserves and of probable oil reserves. Because of its vast oil reserves, OPEC does price fixing by controlling the extraction of crude. Our governments, Federal and State prevent the extraction of crude from known large reserve fields and from likely new discovered reserve fields.
To the question at hand, Yes is the answer. However, if the delivery to the pump was intended, then the answer would be No because I believe OPEC will continue controlling the flow as long as they can. As to our Federal and State governments, I am hopeful that they will remove the drilling and other restrictions before it is too late.
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Kwikdraw
Champion Author
Minnesota
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Message Posted: Jan 29, 2006 11:48:27 AM
Yes, because of the supply/demand equation. If the supply stays the same prices go up if demand goes up. If prices go up demand goes down. What you should have asked is, will we be able to meet demand with prices only going up equal to or less than inflation. My answer to that question is no.
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TIPPSter
Champion Author
Houston
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Message Posted: Jan 29, 2006 10:19:14 AM
If gas was $6/gal there would be plenty available.
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EarlMerrow
Sophomore Author
New Hampshire
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Message Posted: Jan 28, 2006 3:36:44 AM
NO!!! And here is why! We are more and more dependent on foreign oil. Of course we can't POSSIBLY drill in our own country. Can we environazis? I agree we must find an alternative to gasoline.....and there is research being done on it. Until it is reasonably priced AND easily available, then we need gasoline. It isn't done in a day. The government is giving credits for buying hybrid cars (I haven't done that yet. I am waiting for full sized cars to hit the market. They are also encouraging research by various companies and people to continue research.
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Huntingdog
Champion Author
Oakland
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Message Posted: Jan 24, 2006 7:50:54 AM
Not sure
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truckdude
Champion Author
Twin Cities
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Message Posted: Jan 24, 2006 7:39:30 AM
Not sure
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