Space/Science — HabitableZone

Space/Science » in reply to Canada's impending energy crisis

Re: Canada's impending energy crisis
Nick Hoffman — (archived)

2 years supply left!

It's amazing how unlikely this seems to me. I worked in the oil industry for 15 years so have a smattering of understanding of the issues.

I think you'll find that SM has made one of his legendary slip-of-a-decimal-place calculations and the true answer is nearer to 20 years, which, strangely is the timescale for exploration and development of new reserves.

Nobody in the world bothers to keep more than 20 years reserves in the ground, since the effort of finding it would be wasted, since you couldn't produce it near-term and the debt due to finding it would inflate to beat the profit of selling it.

- Except the Middle East, where there's so much oil they couldn't HELP themselves from finding too much

Come back on 11th Jan 2004 and explain why Canada is still pumping indigenous oil, and - indeed - still has a surplus to sell south of the border.

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