Originally Posted by Pete7
Wonder how much oil the Arabs have left because once it's gone they don't have a lot else to offer the world. Thought the Canadians had some oil but expensive to extract from Shale, however the current high prices starts to make it worthwhile. Bad news is I don't think its ever going to be cheap again.
we had one of our companies top managers onboard around february and he gave presentations on our global position as of 2008 and how we are looking towards 2025 .......some of the powerpoint slides shows that we have tapped into a very small percent of available global oil reserves if i remember it was around 3 or 4 % on the piechart ..most of us were gobsmacked at the amount of reserves globally but especially saudi they have huge reserves there .....if his slides were accurate then oil will be here long after we are gone. yet we were pumping 100,000 barrels a day in 1992-1997 now we are down to 6000 bbls a day ....but then again we are mainly a gas platform. so it still making monies.
I keep seeing Alex Salmond talking about so called scottish oil ........its actually owned by the oil companies and not the government. If they didnt tap into the reserves we wouldnt have an oil industry ....government dont drill for oil oil companies do.
amazes me the rip off price for diesel as well ....it is one of the easier products to refine yet its the dearest and Jet A-1 is very difficult to refine and yet is the cheapest .....you subsidise air travel in more ways than you know
rant over i'll get me coat/drysuit