Re: [hreg] Article in new Home Power magazine
- Good, succinct commentary, James.
----- Original Message -----
From: James Ferrill <jferrill@...>
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
> 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
> 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.