http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6299291/Energy-crisis-is-postponed-as-new-gas-rescues-the-world.html

 

Energy crisis is postponed as new gas rescues the world

Engineers have performed their magic once again. The world is not going to run short of energy as soon as feared.

 

America is not going to bleed its wealth importing fuel. Russia's grip on Europe's gas will weaken. Improvident Britain may avoid paralysing blackouts by mid-decade after all.

 

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.

 

Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply – and rising fast.

 

"There has been a revolution in the gas fields of North America. Reserve estimates are rising sharply as technology unlocks unconventional resources," he said.

 

This is almost unknown to the public, despite the efforts of Nick Grealy at "No Hot Air" who has been arguing for some time that Britain's shale reserves could replace declining North Sea output.

 

Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations.

 

"The common wisdom was that unconventional gas was too difficult, too expensive and too demanding," he said, according to Petroleum Economist. "This has changed. If we ever doubted that gas was the fuel of the future – in many ways there's the answer." ...(continued)

 

And there's record low temps in Austria, Montana, and Idaho. 1998 is still the hottest year on record, even after 11 years.

 

Anyway, this story verifies that humanity always comes up with new technologies just in the nick of time, and politicians never take this into account.

Oil believe it when I see it.:rolleyes:

won't stop the price rising though!

won't stop the price rising though!

 

How crude!:rolleyes:

So what. It gives scientist 60 more years to develop a better technology than fossil fuel burning

Big drill!!:rolleyes:

 

So what. It gives scientist 60 more years to develop a better technology than fossil fuel burning

Something is wrong with Florida than, were hitting or tying record highs most of this month! It was around 92 AGAIN today.

 

I can't wait till the discover oil on the moon!

Nick, it's my goal to get your beautiful state up to an average daily temp of 150 F in the summertime. :D

 

Don't worry, you'll learn to like it.

So what. It gives scientist 60 more years to develop a better technology than fossil fuel burning

Better than drilling for 60 years, they'll end up in your back garden!

An engine ungoverned, without common sense..

Let's see - hmm.. since a house here in the hedonistic US of A typically uses 10X more energy than it needs to deliver the same comfort level, I would have to say there's a certain level of insanity in the concept that we're "running out" of oil, or gas, etc. Much the same could be said for vehicles.

Now instead of the current consumption-production-waste model for the global economy, we instead focused on an efficiency model, and rewarded the best designs and improvements in efficiency, we could leave all that oil shale behind us in the dust!

The same could be said of food production - local markets, and local farming makes so much more sense than shipping things a zillion miles, from field to table. If nothing else, grow a garden, and keep the earth's environments more stable! I had to ship my tomatoes all the way from the garden to the basement, then to the sink and the table, without a drop of crude.:smug: It was rough, but in the end worth it - all 10 boxes full of ripening tomatoes.:P

I think they should still aprove hard laws against excessive consume, and find other efficient and more enviromentally friendly sources of energy

I think they should still aprove hard laws against excessive consume, and find other efficient and more enviromentally friendly sources of energy

 

What is excessive? How do you define it?

What is excessive? How do you define it?

 

China?:rolleyes:

China Is just doing what everyone else is (or vise versa); But China is leaping ahead with solar!:sunny: We would be wise to follow suit.

In truth, we are all become more like each-other. But the model, set by the (American Empire? Is there such a thing?), and before that the British Empire, and before that the Roman Empire, and then the Greek Empire, and the Egyptian Empire, and god only knows how far back in time it goes, is one where expansion without consideration of limits is a big issue.

Fortunately, we are heading, however slowly the ships of state turn, in a different direction..

Besides that, there is no new oil - it's all as old as the dead sea life, & the keratin from which is was cooked, is. Just where do you draw the line? Nothing is new, but perhaps our modification of it is? Even the so-called discovery of it, and it's extraction, really is probably not breaking news - just a way to excite investors (perhaps I'm being a bit cynical, though..:thinking:)

But truthfully, excessive could be defined as that which is beyond that which is essential, healthy, and desirable to obtain a certain effect. In other words, gluttonous, wildly consumptive, unreasoned use, consumption for pure ostentatious displays of wealth, myopic consumptive behavior, illogical use of raw materials, and others..

We can have our cake, and eat it too! (but maybe it needs to be made with a little more thought put into the frosting.);)

I doubt solar will ever be a viable option. Too expensive and inefficient.

I doubt solar will ever be a viable option. Too expensive and inefficient.

 

A bit like Gordon Brown's government, then.:rolleyes:

What is excessive? How do you define it?

 

http://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption

 

300 million people and 20 million barrels per day.

I doubt solar will ever be a viable option. Too expensive and inefficient.

That's what the oil companies want us to believe, Nick.;)

Solar is very viable, especially in Florida (or Saudi Arabia, and other places with lots of sun and sand). 2 year payback time for solar hot water systems, and that's just a start. The solar electric generating panels take longer - 5 to 15 years, depending on your electric rates. Most efficient solar to electric conversion remains the solar reflector-sterling engine combination, somewhere around 35%, but those are generally for larger installations (although some smaller versions are available).

Once it's paid back, the remaining life of the system is pure profit (or savings, depending on how you look at it). If you spend $350 a year to heat hot water, then in 20 years, not even considering the increasing cost of fossil fuels and electricity, there's a savings of $7,000. Even over a 10-year span - $3,500 is a pretty nice chunk of change to hang onto.

And the solar electrics pay back faster if you've got a lot of sunny space to put panels on, and then you don't need the most efficient cells - the most cost effective panels are less efficient, but deliver the best value in kWh/$ investment. Do the roof. Do the garage roof. Put up a shade canopy over the porch. Plus, there's less sun baking the roofing, and consequently, the roofing itself will last longer, and the house stay cooler in summer.

 

http://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption

 

300 million people and 20 million barrels per day.

 

What if that was considered low? Who give you or anyone else the right to decide what is excessive?

It's true, the US consumes the most. But we also produce the most (GDP).

What if that was considered low? Who give you or anyone else the right to decide what is excessive?

 

It's pretty well accepted that the US consume alot of oil and if you look at the list far more than other nations, so yes I would say it's excessive but on the flip side I don't really care that it's excessive, I'm not someone who thinks everyone should wear sandals and drive a Prius.