Pretty Freaky

[mckirdy-services]

That's a combination of made up stats and complete b0ll0x.

Look at the barrel count, at that rate it will reach zero in four years.

Don't think we'd be paying a mere 120 a litre if it was going to run out that fast.

I think you have left a zero off somewhere, I just had a quick look and got 39.83 years which is close enough to there 42.10 years.

They don't use a linear method of calculating the barrels left, so there will be a difference when just basing it on the daily barrel usage.

I'm not sure if they have included all the suspected oil reserves which currently cannot be tapped mainly due to depth.

[flounderbout]

I think you have left a zero off somewhere, I just had a quick look and got 39.83 years which is close enough to there 42.10 years.

They don't use a linear method of calculating the barrels left, so there will be a difference when just basing it on the daily barrel usage.

I'm not sure if they have included all the suspected oil reserves which currently cannot be tapped mainly due to depth.

40 years remaining is pretty much in line with accepted wisdom. As McKirdy points out there are factors which will affect that figure though.
Firstly there are known reserves which are presently inaccessible either for commercial or technological reasons (very deep sea reserves/arctic reserves etc) - obviously as accessible reserves dry up and prices rise, the motivation both commercial and technical to access more difficult reserves will increase.
Secondly there are unknown reserves which will be discovered (although these are rapidly dwindling given the technology for exploration now available).

As for the price, it is not really driven by any principle of long term supply(although obviously it can be seriously affected by short term supply, for example by a localised conflict), but is instead maintained by what is in essence a cartel.

Experience has shown that oil demand is not particularly price sensitive. However if the prices are particularly high, investment in alternative sources becomes more attractive (hence the major interest in and adoption of wind turbines in the US during the 70's oil crisis). As reserves dwindle, obviously investment in alternative sources will continue to increase, and viable alternatives will become more accessible and attractive.

As for the statistics re daily barrel usage, they have been inconsistent recently largely depending on whether or not gwh is driving Lexurf IV that day.

[gwh200]

As for the statistics re dail barrel usage, they have been inconsistent recently largely depending on whether or not gwh is driving Lexurf IV that day.

There is no cotton statistic...and quite when that will run out...these pads aint cheap you know.

Anyhoo...just a load of stats, missing quartile ranges and reperesenting nothing, but self serving interests...normal, you want freaky...

Ten nude female midgets, wrestling in a large arena of mud and cow spit, shouting god save the queen in swahili,whilst doing the mashed potato to martha reeves and smoking small cheroots, rolled on the inside thigh of a local oomah, whilst listening to the censored national press being read out by a large ,sweaty,overseer...thats freaky !

[western uk]

You've been to Cuba then mate