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Originally posted by nateb@Apr 27 2006, 01:21 PM
Coal running out, WHAT THE!
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For those of you interested in fossil fuel reserves - and for those who can stand such a dry read - you might find
this transcript from an upper BP exec of some interest.
Certainly, if this is anything to go by, the oil companies also believe that
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the official data – always open to challenge - but the best data we have – indicates we have decades worth of fossils fuels in the ground.
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and also
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Working from today’s official data, we believe there is about 40 years’ worth of conventional oil reserves at the current production rates. That is based on the ratio between the world’s total proved reserves at the end of a given year and the production in that year – the so-called R/P ratio. In addition, there are plausibly significant yet to find reserves and considerable potential unconventional resources.
For gas, we know of about 70 years’ worth of reserves at the current rate of consumption and again material yet to find reserves. There are also significant resources of unconventional gas including a potentially enormous resource in the shape of gas hydrates. Finally, for coal, the R/P ratio is at least 160 years, with estimates up to 1,000 years because no one has gone seriously exploring for coal.
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Start reading from section 7 of the transcript, if you're lazy like me. (Also note you can download a pdf version of the slide pack referred to.)
As oil/energy companies currently make their profits largely from fossil fuels, it's in their interests to be on the money when it comes to supply ... and also for seeking alternative fuels. The drawback from alternatives becoming expedient tends to be more infrastructure issues and affordable technologies for mass production.