davetheflyer
New Member
I'd say that we have fossil fuels to last for a couple of hundred years at least. There are a couple of problems with that estimate though. Developing nations, such as China, are using more and more oil, so demand and consumption are increasing at an increasing rate.
Increased demand is the main reason that oil prices are so high now.
Secondly, the oil that we have is getting more and more expensive to pump because we are getting to the point that the easily obtained oil has already been used. Saudi Arabia has announced that it will cost more in the future to pump from oil fields that were undeveloped in the past because of the difficulty of getting to the oil.
Third, it seems that most of the world's oil is located is the world's most unstable and insecure places. This also adds to the cost and difficultry of pumping. Nigeria's recent instability, as well as the chronically unstable Middle East, is an example of this.
The good news is that we have our own untapped ANWR reserves, our Gulf of Mexico fields, and we can invest in Russia's Siberian oil fields.
In the long run, we do need to start weaning ourselves off of oil though. Hydrogen fuel cells are currently being developed for civil use. Solar power has come a long way. Hybrid autos are using less gas, but costing more (although that price will continue to fall). Nuclear power will probably also continue to play an increasingly important role.
Increased demand is the main reason that oil prices are so high now.
Secondly, the oil that we have is getting more and more expensive to pump because we are getting to the point that the easily obtained oil has already been used. Saudi Arabia has announced that it will cost more in the future to pump from oil fields that were undeveloped in the past because of the difficulty of getting to the oil.
Third, it seems that most of the world's oil is located is the world's most unstable and insecure places. This also adds to the cost and difficultry of pumping. Nigeria's recent instability, as well as the chronically unstable Middle East, is an example of this.
The good news is that we have our own untapped ANWR reserves, our Gulf of Mexico fields, and we can invest in Russia's Siberian oil fields.
In the long run, we do need to start weaning ourselves off of oil though. Hydrogen fuel cells are currently being developed for civil use. Solar power has come a long way. Hybrid autos are using less gas, but costing more (although that price will continue to fall). Nuclear power will probably also continue to play an increasingly important role.
