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52 comments on Have Oil Prices Bottomed Out?

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RalphW on March 13, 2009 - 11:58am Permalink | Subthread | Parent | Comments top

My favourite 'back of the envelope' calculation is to estimate how much oil we should use if we are to consider it a 'renewable resource'.

If you assume the world supply regenerates every 100 million years, and there are 2 trillion barrels available and 7 billion people on earth, then an equitable, renewable rate of consumption is about half a cup per person per lifetime

Of course, it might be as little as a thimbleful or as much as a pint...

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Partypooper on March 13, 2009 - 12:14pm Permalink | Subthread | Parent | Comments top

RW,

I guess the point your making is it's not very much, whether a thimble or a pint. Even a barrel over our life time would would not help much.

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crobar on March 14, 2009 - 9:04am Permalink | Subthread | Parent | Comments top

Well, if we made something useful from it that we could reuse or recycle when we were done instead of just burning it there'd probably be quite a lot to go round.

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52 comments on Have Oil Prices Bottomed Out?

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