In 100 Years... USA, Canada & Venezuela Will Provide For Worlds Oil Needs!

[Economy 52,951]

http://www.albertaoilmagazine.com/2014/10/techno-oil/  http://abcnews.go.com/Business/american-oil-find-holds-oil-opec/story?id=17536852 http://junkscience.com/2013/08/21/report-10-2-trillion-barrels-of-oil-recoverable-with-new-technologies/

 

of the estimated 10.2 trillion barrels of oil on Earth only 1.6 trillion are counted as reserves as thats all that is considered extractible with current technologies. Conventional Oil (normal liquid oil) already has a 50% recovery rate. So Where is all this extra oil?

 

NORTH AMERICA & Venezuela!!! As much as 8 trillion barrels of the worlds oil (80%) is in Canada, the US and Venezuela!

 

In Canada most of it is in oil sands. Of the 1.7 trillion to 2.5 trillion in place, only 170 billion is currently counted as "recoverable reserves" or roughly 10% of whats in place. Recently Canada has also discovered new shale reserves as well that may contain an additional 115 billion barrels, it is unclear at this time how much may be extractive until more survaying is done

 

In the US at least 1 trillion barrels of shale oil are in place of which a small portion is extractible as of now. The US may also have as much as 3 trillion barrels of "oil shale". Its actualy not the same as shale oil... It exists in rock formations as well but it is an incomplete form of oil that requires lots of heat and engeneering to finish its chemical transformation to oil. At this time none of the oil shale is considerd economically extractible with current technology

Venezuela is the only Country outside North America with major unconventional reserves. Its oil sands have about as much oil as Canadas if not more! with as much as 2.5 trillion barrels of oil , 297 billion barrels are currently extractable (most in the world)

 

this has major implications. Conventional liquid oil already has a 50% recovery rate without much room to grow, it also makes a small portion of the worlds total reserves. Far in the future as technologies improve the recoverable reserves may continue to grow quickly. 

 

The world due to global warming concerns may eventually phase out oil for energy and car use. But a lot may still be used for fertilizers, plastics, paints and other oil products gradually depleating the worlds oil. In 100-200 years Canada, USA and Venezuela may be the only 3 Countries to supply worlds oil

[HANZ 4,380]

In 100-200 years Canada, USA and Venezuela may be the only 3 Countries to supply worlds oil

​Venezuela is gonna be so rich

[Economy 52,951]

​Venezuela is gonna be so rich

​and the US and Canada too

[Luc 4,776]

Oil will be irrelevant 100 years from now. It's better to sell all your oil in the next 30-50 years, because after that it won't be used much anymore.

[Supersonic 49,376]

I doubt that the world that we know of will still exist in 100 years. The USA and Russia are gonna blow us up anyway.

[angelduuh 563]

​Venezuela is gonna be so rich

​we may have a lot of oil, but living in here is horrible. The inflation rate is so bad, everything here is extremely expensive, and daily products (like milk, toilet paper, cooking oil, diapers, etc) are really hard to find. Venezuela is at a really bad place now. And the crime rate it's really high too, it's very insecure here.

[RainingOnMe 7,280]

Oil will be irrelevant 100 years from now. It's better to sell all your oil in the next 30-50 years, because after that it won't be used much anymore.

​Yeah, oil, fuel, and gas won't be needed anymore because this was recently invented:

 

[Melech 9,900]

Oil most likely doesn'T exist in 200 years  

[HANZ 4,380]

​we may have a lot of oil, but living in here is horrible. The inflation rate is so bad, everything here is extremely expensive, and daily products (like milk, toilet paper, cooking oil, diapers, etc) are really hard to find. Venezuela is at a really bad place now. And the crime rate it's really high too, it's very insecure here.

​omg I'm so sorry to hear that

 

plus it's bad when an economy's power is only based in oil and natural resources, which is Venezuela's case

[Economy 52,951]

​Yeah, oil, fuel, and gas won't be needed anymore because this was recently invented:

 

Oil has a million different uses. Energy and gasoline 2 two major uses

 

but LOTS of it is used for everyday oil products. Half the stuff u can buy uses oil in some form or another. And alternatives to these are harder

 

and since they arent as polluting as energy burning or cars, there probably wont be as much of a push to eliminate these...

 

i specifically mentioned cars being eliminated and u use that as an argument anyway. Did u even read the OP???  

[RainingOnMe 7,280]

Oil has a million different uses. Energy and gasoline 2 two major uses

 

but LOTS of it is used for everyday oil products. Half the stuff u can buy uses oil in some form or another. And alternatives to these are harder

 

and since they arent as polluting as energy burning or cars, there probably wont be as much of a push to eliminate these...

 

i specifically mentioned cars being eliminated and u use that as an argument anyway. Did u even read the OP???  

​Please calm down.  I wasn't arguing at all, I was just agreeing with someone else.  

[Economy 52,951]

Oil will be irrelevant 100 years from now. It's better to sell all your oil in the next 30-50 years, because after that it won't be used much anymore.

I seriously doubt that. U might not use it to power up cars or make electricity, but u still use it for all kinds of things

Europe has decreased its dependance on oil by eliminating most foasil fuel electric production and even European cars consume very little these days

Yet because of its other uses in products and industrial production the outright decline in oil usesage in Europe has been modest

 

ppl think of transportation and energy only and underestimate how much is used for other purposes

 

plastics, paints, certain rubbers, even ur darn lipstick uses oil. These wont be eliminated just like that 

[Morphine Prince 109,768]

Oil will NOT be irrelevant in 100 years. I HIGHLY doubt that. It's going to be a slow change over decades but 100 years is not enough. Not the way our world is right now. 

 

[Melech 9,900]

The article is also missing the Arctic region where is also a huge oil field and countries like Russia will highly profit from it. 

 

Though we need to find alternatives. Due to our growing earth population and our use of products where oil is used, we won't have more than 120 years with Oil. The article don't seem to take all these things to account. 

[Economy 52,951]

​Please calm down.  I wasn't arguing at all, I was just agreeing with someone else.  

Sorry i just get mad when i mentione something and then ppl in comments use the same thing as an argument. Makes me feel like ppl didnt bother to read the whole thing but argue against me anyway

 

in this case i specifically mentioned how oil for energy production and car use may be phased out due to environmental concerns but that oil likely will still be used for other stuff... And cars and energy is exactly why ppl are suggesting im wrong and oil wont be used in 100 years  

 

naturally im gonna assume u guys are criticising without having read anything i posted