Oil Resource In Place: 6 to 8 Trillion Barrels Conventional with an Equal or Greater Quantity of Unconventional Oil Equivalent In Place
I suggest that we concentrate on recovering a significant portion of the 6 to 7 trillion barrels of trapped conventional oil safely and at an affordable cost. EOR is a part of the solution to the world’s energy needs and we need to pursue technology that is affordable, safe, and available today. _OilEdge
The amount of conventional oil-in-place is somewhere between six and eight trillion barrels, depending on whether you go with the Conservative or Target Scenario, though again this number has continually grown over time. The volume of non-conventional oil-in-place is rather murkier, with a Conservative Scenario figure of seven trillion barrels and a Target Scenario number of roughly eight trillion barrels or higher. _World Energy (PDF)
While estimates vary, approximately six to eight trillion barrels from conventional resources, with the same or more from unconventional resources, are believed to be in-place and ... untapped. _Energy and Climate Wars
The question is not running out of oil. The question is not even about running out of affordable oil, or being able to keep up with demand for hydrocarbon fuels. The real question is about the political will to face the desperate need for reliable, affordable energy. If politicians choose to ignore the needs of their societies for the sake of a fistful of campaign contributions and votes from special interest lobbies, then peak oil -- political peak oil (the only kind of peak oil you will ever see) -- will devastate the land.
Labels: peak oil