Easy Tiger
Active Member
I found an interesting article regarding what the future would look like if oil hit US$350 a barrell, which would be in excess of $5 a litre here.
http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/WhatIfGasCost10DollarsAGallon.aspx
One interesting part of the article though was about fuel consumption..
Resistance to drilling for oil in Alaska's Arctic National Wildlife Refuge and off California would shrink. Environmentalists might stand their ground. But as James Williams, an energy economist for WTRG Economics in Arkansas, says, "Let's put it this way: Y'all wanna drive?" Oil reserves in both areas are thought to be more than 10 billion barrels, double the proven reserves in Texas. That would help feed America's 21-million-barrel-a-day appetite.
If the Alaska reserve has an estimated capacity of 10 billion barrels (supposedly double the reserves in Texas), according to their calculations of what America uses per day (21 million barrels), the reserve would only last 476 days??
10,000,000,000 / 21,000,000 = 476 days of supply.
Something doesn't add up there. You can't tell me America on it's own would use up one of the biggest oil reserves in less than a year and a half?
http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/WhatIfGasCost10DollarsAGallon.aspx
One interesting part of the article though was about fuel consumption..
Resistance to drilling for oil in Alaska's Arctic National Wildlife Refuge and off California would shrink. Environmentalists might stand their ground. But as James Williams, an energy economist for WTRG Economics in Arkansas, says, "Let's put it this way: Y'all wanna drive?" Oil reserves in both areas are thought to be more than 10 billion barrels, double the proven reserves in Texas. That would help feed America's 21-million-barrel-a-day appetite.
If the Alaska reserve has an estimated capacity of 10 billion barrels (supposedly double the reserves in Texas), according to their calculations of what America uses per day (21 million barrels), the reserve would only last 476 days??
10,000,000,000 / 21,000,000 = 476 days of supply.
Something doesn't add up there. You can't tell me America on it's own would use up one of the biggest oil reserves in less than a year and a half?
