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Thread: How much oil and gas there is in the world?

  1. #1
    Registered Senior Member
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    How much oil and gas there is in the world?

    I read somewhere that we spent 1 trillion barrels (US trillion), but we still have somewhere over 16 trillion barrels yet to spend, however, scientists find new reservoirs of oil and gas, and it appears we have much more oil and gas than we thought before.
    The only difference is that the oil and gas will be more expensive because of the deeper drilling?
    So what exactly is how how much oil and gas we have, if we include today's reserves, potential reserves and all the possible reserves?
    They say we have oil for the next 1000 years?
    Also, what about Arctic and Antarctica reservoirs, they say there is at least 1/3rd of the entire quantity of oil and gas today?

    But even if we spend all the oil and gas, we still have the methane hydrates, in which the quantity of methane (on ocean floors) is enough for the next 2500 years?
    What is the real truth here?

    And when we compare to the amount of consumption of oil and gas these days, how much oil we have in disposal, because none will say it's for 50 years, since they discover always new sources...
    Any more precise information?
    Big thanks to all.

  2. #2
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    Quote Originally Posted by Gravage View Post
    So what exactly is how how much oil and gas we have, if we include today's reserves, potential reserves and all the possible reserves?
    An infinite amount. We can synthesize it from air and water if we really want to. But at that point it is no longer a source of energy, since it would take more energy to do that than to just use the energy to begin with.

    The number we care about is EROEI, or energy returned on energy invested. When oil was cheap, oil wells had EROEI's of around 100. Nowadays new wells have EROEI's of around 3. Once that number approaches 1 you'll still be able to drill for oil - but it will simply not be economically feasible to recover it.

  3. #3

  4. #4
    Registered Senior Member
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    Thanks for the answers.
    So, I guess the only problem is what damage from these source of energy environment suffers?
    I wonder if that is solvable?
    But I don't think you can protect environment 100%, since something will always remain as waste/wastes?
    Cheers.

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