Not much oil left - only 49 years of supply!

Also, can someone explain me why 1l of petrol today costs £1.40?? and the price per barrel is around $100.

3 years ago, when the price per barrel was around $150!! the prices on the petrol stations were max £1.20 so what the hell is going on?
 
49 years left now? I remember in the late 90's early 2000's there was the media frenzy on reaching peak oil and there was only 50 years of oil left. If it takes near enough 10 years to use a years worth of oil in reserves then as others have said, in our lifetime its not going to vanish. By then you would hope they would be well on their way to alternatives anyway :P
 
To be honest, it could just be scaremongering in order to help keep the price of oil high.

There's no possible way they can accurately know exactly how much is left. So to throw a random figure like 49 years on the fire is just silly.

And anyhow, we got nuclear power and renewable energy sources so we're fine. And if we do run out of oil, at least that'll be everybody's carbon footprints practically slashed in half from then on!
 
zYx said:
Start saving money for a run-on-water-car :D I'm not interested in electric cars.
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I don't think there's much chance the cars of the future will not be electric, however they may be fuel cell powered as opposed to battery powered if that's what you mean. Electric has and probably always will be the most efficient form of engine, it's just nobody has yet come up with a great energy storage solution.
 
Grey M@a said:
49 years left now? I remember in the late 90's early 2000's there was the media frenzy on reaching peak oil and there was only 50 years of oil left. If it takes near enough 10 years to use a years worth of oil in reserves then as others have said, in our lifetime its not going to vanish. By then you would hope they would be well on their way to alternatives anyway :P
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I'm not really fussed. I just want a car running on tap water!!! :D
 
Dr.EM said:
I don't think there's much chance the cars of the future will not be electric, however they may be fuel cell powered as opposed to battery powered if that's what you mean. Electric has and probably always will be the most efficient form of engine, it's just nobody has yet come up with a great energy storage solution.
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This is why they build ISS to make experiments out there. In future we will be stealing resources from other planets (!) to keep us alive. Eventually we will end up living in a space ship :D
 
Right just got an email back from Karen regarding where the figures came from:

Dear OriginalJonty (I'm not giving you guys my real name),
Thank you for your email. These numbers are taken from the International Energy Association on their best estimates of oil stocks left.
Regards
Karen
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Time for some digging.
 
Yawn.

In science classes we had books that said it would run out in the late 90's
Every year oil companies reserves more or less grow in line with usage.
By 2050 are need for oil will be dramatically reduced anyway.

EU already has a task force to sort out alternative power supplies and for us to move away from oil massively by 2050.
 
Grey M@a said:
Google it, seems people are looking at cars powered/fuelled with water :D
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There is a way. In fact there was a way of doing it many years ago. I think BMW was playing with it, but there is a platinum involved which makes this whole thing too expensive (for the time being). Scientists are constantly working of this.
 
AcidHell2 said:
Yawn.

In science classes we had books that said it would run out in the late 90's
Every year oil companies reserves more or less grow in line with usage.
By 2050 are need for oil will be dramatically reduced anyway.

EU already has a task force to sort out alternative power supplies and for us to move away from oil massively by 2050.
Click to expand...

I hope so. My 3.2 V6 will be dead by then ;)
 
zYx said:
There is a way. In fact there was a way of doing it many years ago. I think BMW was playing with it, but there is a platinum involved which makes this whole thing too expensive (for the time being). Scientists are constantly working of this.
Click to expand...

The only realistic way you can make fuel from water is by Electrolysis which requires more energy then you get out.
 
zYx said:
There is a way. In fact there was a way of doing it many years ago. I think BMW was playing with it, but there is a platinum involved which makes this whole thing too expensive (for the time being). Scientists are constantly working of this.
Click to expand...

There are a couple of alternative vehicle fuels avaliable, it's just that the infrastructure is not there to supply demand. However, within in the next 10 to 15 years most if not all HGVs will probably be using alternative fuels. A few have already started.
 
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