Replenishing Oil Reserves

(See here) an interesting article by George Crispin on the source of the world's oil reserves.

It fails to convince me that eventually the world is not going to be faced with more demand for crude oil then can be met. Google "peak oil" for the other side of the debate.

Even if some sources of oil extraction are being replenished from as yet unknown sources does not mean that world wide demand is not going to outstrip production. At most it might mean it will take a couple of extra years before this happens. Most oil fields do not show any evidence of being replenished. Just because a few of them do does not mean we have "solved" the problem.

Even if the earth somehow "naturally" continues to create crude oil does not mean the rate the earth creates it will be able to match the rate at which we consume it. Evidence would seem to point that the world economy is going to face a "peak oil" crunch even if a few oil fields are being replenished from still unknown sources.


Blogger Michael said...

Crude oil may be produced by anaerobic bacteria, but it is made in the timescale of millions of years... hence "fossil fuels".

Oil, just like coal, is not being replenished any time quick.

Michael Tam

1/04/2006 03:58:00 AM  

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