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Re: [hreg] Article in new Home Power magazine

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  • Kevin L. Conlin
    Good, succinct commentary, James. ... From: James Ferrill To: Sent: Wednesday, January 24, 2001 7:10 PM Subject:
    Message 1 of 3 , Jan 25, 2001
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      Good, succinct commentary, James.

      ----- Original Message -----
      From: James Ferrill <jferrill@...>
      To: <hreg@...>
      Sent: Wednesday, January 24, 2001 7:10 PM
      Subject: [hreg] Article in new Home Power magazine


      > I just read the article "When will the joyride end?" in the latest Home
      > Power magazine. It's a discussion of the current energy consumption facts
      > and our oil reserves. Here are some notable facts I've gleaned from the
      > article:
      >
      > The US has 5% of the world's people, but uses 25% of the world's oil.
      > The US uses 20 million barrels of oil a day.
      > In 1940, the US produced 2/3 of the world's oil.
      > In 1950, the US produced 1/2 of the world's oil.
      > US oil production peaked in 1970.
      > The US only produces 45% of what we use.
      > 65% of US oil reserves has been consumed.
      > 80% of Texas oil reserves has been consumed.
      > Texas imports $5 billion worth of oil each year.
      > 4.6 million wells have been drilled world wide.
      > 3.4 million of those are in the US.
      > Tiny Kuwait has twice as much oil remaining as the US.
      > US has 40 yrs of gas and 110 yrs of coal left.
      > Of all world reserves remaining, US has 3% of that.
      > Exxon, Shell, and BP control <10% of remaining reserves.
      > Most of the rest is controlled by Arab states.
      > Opec only has 500,000 barrels/day excess capacity.
      >
      > And the two facts that really scares me:
      >
      > World production will peak in 2010 and then decline from there.
      > After that, if we don't slow consumption, oil will only last 50 more
      years.
      >
      > Then there will be none left in the world. I always wondered why oil
      > companies like BP kept investing in solar factories. Now I know why.
      > They've known this for a while.
      >
      > And BTW, 2010 is only 9 years away.
      >
      > James
      >
      >
      >
      >
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