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From BP Oil: "World proved natural gas reserves at end-2011 were sufficient to meet 63.6 years of production" That's at current rates. If we were to switch t
by grammaton 14y ago
From BP Oil:
"World proved natural gas reserves at end-2011 were sufficient to meet 63.6 years of production"
That's at current rates. If we were to switch to an exclusively natural gas infrastructure, this number would of course drop sharply. Natural gas is an appealing alternative, but there just isn't enough of it. And before anyone whips out the old "they'll just find more" canard - not really. The primary reserves of natural gas we're tapping now have been known about for a long, long time, and there are few new discoveries in the pipeline. A similar situation exists with Petroleum.
- JumpCrisscross 14y ago"Only half a decade ago it looked as though the world might have only 50 or 60 years-worth of gas. Now shale and other unconventional as well as new conventional gas finds have increased that period to 200 years or more, by some estimates." http://www.economist.com/node/21558432 http://www.economist.com/node/21558432
- grammaton 14y ago"by some estimates." Who's estimates? I notice the article doesn't mention. Personally, I tend to stick to estimates from the likes of BP and Exxon, since I figure they know what they're talking about.
- hythloday 14y agoIt's worth pointing out that a "reserve" is fuel that is economic to extract. Even without technology improving, a simple hike in the price of fuel raises the reserves of it.