Plenty Of Oil

The world has plenty of oil just the environmental socialist moonbats won't let us drill for it or refine it based on the myth of anthropogenic global warming and rumors that we are running out. Well how often are moonbat lefties right about anything? Never, I would hazard a guess, all they are interested in is controlling the people not their welfare. Here is a great article in the WSJ today that looks at worldwide reserves and production levels by Nansen Saleri, an oil reservoir specialist.

In fact, we are nowhere close to reaching a peak in global oil supplies.

Given a set of assumptions, forecasting the peak-oil-point -- defined as the onset of global production decline -- is a relatively trivial problem. Four primary factors will pinpoint its exact timing. The trivial becomes far more complex because the four factors -- resources in place (how many barrels initially underground), recovery efficiency (what percentage is ultimately recoverable), rate of consumption, and state of depletion at peak (how empty is the global tank when decline kicks in) -- are inherently uncertain.
- What are the global resources in place? Estimates vary. But approximately six to eight trillion barrels each for conventional and unconventional oil resources (shale oil, tar sands, extra heavy oil) represent probable figures -- inclusive of future discoveries. As a matter of context, the globe has consumed only one out of a grand total of 12 to 16 trillion barrels underground.

I also recall a theory a while back in some scientific paper that oil is a product of tectonic forces within the earth's crust and not a finite amount of "fossil" fuel from decayed dinosaurs and ancient plants which seems highly plausible to me. I mean if you look at the vast number of minerals, metals and gases created naturally within the earth it makes alot more sense than decayed dinosaurs does.