Click me
Transcribed

Have Our Oil Reserves Peaked?

HAVE OUR Peak oil is a concept that was originally devised by M. King Hubbert in the 1950s. The basic concept is that once oil production reaches its maximum output, a sharp decline will follow creating huge economic problems. OIL RESERVES PEAKED? PROVED OIL RESERVES 17.7% 15.8% 10.3% 9.3% 8.9% VENEZUELA SAUDI ARABIA CANADA IRAN IRAQ 298.3 265.9 174.3 157.0 150.0 BILLION BARRELS BILLION BARRELS BILLION BARRELS BILLION BARRELS BILLION BARRELS 6.0% 5.8% 5.5% 2.9% 2.6% KUWAIT UNITED ARAB EMIRATES RUSSIA LIBYA USA 101.5 97.8 93.0 48.5 44.2 BILLION BARRELS BILLION BARRELS BILLION BARRELS BILLION BARRELS BILLION BARRELS OUR KNOWN OIL DEPOSITS WILL ALL BE IT'S ONLY A MATTER OF TIME BEFORE WE OFFICIALLY RUN OUT GONE BY 2052 OF OIL. AT THE RATE IT IS BEING USED, IT HAS BEEN SAID... WHO'S CONSUMING THE MOST BARRELS OF OIL PER DAY? USA 18.961 MILLION 10.480 CHINA MILLION JAPAN 4.531 MILLION 3.660 INDIA MILLION 3.493 RUSSIA MILLION 3.003 BRAZIL MILLION 2.961 SAUDI ARABIA THE MOST COMMON USES OF OIL MILLION CANADA 2.431 MILLION 2.403 MILLION GERMANY 2.324 SOUTH KOREA MILLION POWERS OUR CARS HEATS OUR HOMES CREATES PLASTICS PEAK OIL AN EVENT BASED ON M. KING HU33ERT'S THEORY Peak oil believers are all about the time at which it will take place, with many believing it's already happened. M. King Hubbert has a history of accurate predictions - predicting that USA's peak would be around 1970's. Their peak hit in 1971. 15 PROVEN RESERVES - 250X10° BBLS 250X109 BBLS FUTURE CUMULATIVE DISCOVERIES PRODUCTION 510X10° BBLS 90X 10° BBLS 1850 1900 1950 2000 2050 2100 2150 2200 YEARS CRITICISMS: OPTIMISTIC VIEW New oil reserves yet to be found will forestall a peak oil event Optimistic estimations of peak production forecast the global decline will begin sometime after 2030. However major Confidence in the various options and technologies for substituting oil Too overly focused on a single Country: Saudi Arabia investments in alternative fuel will occur before a crisis, preventing huge lifestyle changes for many economies. Excludes unconventional sources of oil such as the oil sands of Canada ALTERNATIVE POWER: While research and investment into alternative power is at an all time high, we currently don't have the capacity to produce enough alternative fuel to offset the loss of oil yet. SOLAR TIDAL GEOTHERMAL NUCLEAR WIND SO HAVE WE REACHED PEAK OIL Science suggests we haven't but it's impossible to tell until a few years after we hit it. Sources: en.wikipedia.org / bp.com / ecotricity.co.uk / explorationworld.com / science.howstuffworks.com CHILTERN THRUST BORE LTD www.chilternthrustbore.co.uk BILLIONS OF BBLS / YR

Have Our Oil Reserves Peaked?

shared by Aptitude on Oct 22
348 views
4 shares
0 comments
Peak oil is a hotly debated topic. One with many views and so little answers. The term peak oil was originally coined by M. King Hubbert in the 1950s. Take a look at the infographic below as we explor...

Category

Environment
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size