Monday, August 22, 2005

Liquid Fuel Crisis Covered in NYTimes Magazine

This article from the recent New York Times Sunday Magazine discusses some of the issues related to the impending global liquid fuel crisis. I suggest you give it a read.

Also--just to note:
15 mbpd
x365 days
x30 years
= 1.6 trillion barrels
Total current world reserves=slightly less than 1 trillion barrels
Currently, we use 4 barrels of oil for every one that we discover.

There is no way, in or out of hell, that Saudi Arabia can sustain 15mbpd--where it plans to ramp its productions up to--for the 30-50 years that they claim. They will have trouble just getting to 15. It's not like they can just turn the pumps up faster... They need to build more refineries, build miles upon miles of pipelines, discover new fields, etc... In a desert country--Saudi Arabia is pumping millions of barrels of WATER into their oil wells to keep the pressure high enough to extract oil at current rates.

This house of cards is going to come down.


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