Thursday, August 26, 2010

More Math From Fox News North

And we're talking billions upon billions in oil and natural gas that will feed the world's energy demands into the next millennium.

A pretty ambitious claim, given that the next millennium is 990 years off.

PS. You don't need to read the editorial through the link. Believe me.

1 comment:

Deno said...

Aaaah, BCL you’re the one with the math problem

There is a total of 1.7 trillion barrels of oil in the Alberta and Saskatchewan oil sands.

Current production is about 1.2 million barrels a day so the math is

1,700,000,000,000 / 1,200,000 / 365 = 3881.28 years.

That is 3,881 years of production at today’s current rate. This is much higher then your 990 year crack.

Now at today’s oil price level and with today’s current technology only about 20% of the 1.7 trillion barrels of oil in the oilsands is recoverable so that would mean we currently have 776 years of oil production at the current level.

Since 25 years ago only about 8% of the 1.7 trillion barrels of oil in the oilsands was recoverable at 1985 oil prices and technology and it is now at 20%, 25 years later so it isn’t much of a stretch to believe recoverable oil production will easily move to 30, 40 or even 50% in future decades as the price of oil rises in an era of world wide peak oil production and extraction techniques that only become more efficient and better as time marches on.

Any way you slice it oil will be produced at the oilsands well into the next millennium.

Looks like Fox News North’s math is way better then yours BCL.