Difference between revisions of "Remaining Oil Reserves"

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==Remaining Oil Reserves:==
==Quantity of remaining Oil Reserves:==
under construction: Phil Poetter
 
Oil reserves are the estimated quantities of crude oil that are claimed to be recoverable under existing economic and operating conditions. http://en.wikipedia.org/wiki/Oil_reserves
 
 
Based on this definition, it is important not confuse 'reserves' with 'the amount of oil left in the ground'.


==Description:==
==Description:==
Oil reserves are the estimated quantities of crude oil that are claimed to be recoverable under existing economic and operating conditions. http://en.wikipedia.org/wiki/Oil_reserves
Classification:
Reserves are those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions. Reserves must satisfy four criteria:
 
- discovered through one or more exploratory wells
 
- recoverable using existing technology
 
- commercially viable
 
- remaining in the ground
 
All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data. The relative degree of uncertainty can be expressed by dividing reserves into two principal classifications – proved and unproved. Unproved reserves can further be divided into two subcategories – probable and possible to indicate the relative degree of uncertainty about their existence.
http://en.wikipedia.org/wiki/Oil_reserves


==Enablers:==
==Enablers:==
- Telecommunication - Time Zones - Physical boundaries: seas - Religion - Drinking water scarcity - Shrinking oil reserves - Continental languages (e.g. North America English, Europe English, South America Spanish, Arabic) - Continental unions: African Union, European Union, Unites States,..
- access to oil reserves
 
- reserve replacement
 
- technological advancements


==Inhibitors:==
==Inhibitors:==
- Global Industry - World Wide Web - Nationalism - Global commuters - WTO - NATO
- Nature / Geology (non-renewable resource)


==Paradigms:==
==Paradigms:==
The continents have historically grown into a strong homogeneity of race, religion and economic standards. The combination of an ongoing globalism, backed by 24hr economies, internet and relatively cheap flights and on the other hand an increasing religious and cultural split will drive the continentalism.


Continentalism is enforced by the practical travel distances within continents (e.g. 4 hr flights), as well as physical infrastructures (e.g. electricity networks, roads, railways). The oceans will continue to be a "mental" border between the continents, where the nations within the continent will blend into one.
==Experts:==
Agencies:
 
- IEA (International Energy Agency)
 
- DOE (US Department of Energy)


==Experts:==
- OPEC
 
Independent Groups:
 
- Simmons http://www.simmonsco-intl.com/
 
- geophysicist M. King Hubbert http://en.wikipedia.org/wiki/Hubbert_peak_theory
 
- O&G Companies, e.g. BP http://www.bp.com/sectiongenericarticle.do?categoryId=9023771&contentId=7044470


==Timing:==
==Timing:==
==Web Resources:==
==Web Resources:==
http://en.wikipedia.org/wiki/Continentalism
Oil Reserves http://en.wikipedia.org/wiki/Oil_reserves
 
Peak Oil http://en.wikipedia.org/wiki/Peak_oil
 
Hubbert Peak Theory http://en.wikipedia.org/wiki/Hubbert_peak_theory

Latest revision as of 20:51, 17 September 2009

Quantity of remaining Oil Reserves:

under construction: Phil Poetter

Oil reserves are the estimated quantities of crude oil that are claimed to be recoverable under existing economic and operating conditions. http://en.wikipedia.org/wiki/Oil_reserves


Based on this definition, it is important not confuse 'reserves' with 'the amount of oil left in the ground'.

Description:

Classification: Reserves are those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions. Reserves must satisfy four criteria:

- discovered through one or more exploratory wells

- recoverable using existing technology

- commercially viable

- remaining in the ground

All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data. The relative degree of uncertainty can be expressed by dividing reserves into two principal classifications – proved and unproved. Unproved reserves can further be divided into two subcategories – probable and possible to indicate the relative degree of uncertainty about their existence. http://en.wikipedia.org/wiki/Oil_reserves

Enablers:

- access to oil reserves

- reserve replacement

- technological advancements

Inhibitors:

- Nature / Geology (non-renewable resource)

Paradigms:

Experts:

Agencies:

- IEA (International Energy Agency)

- DOE (US Department of Energy)

- OPEC

Independent Groups:

- Simmons http://www.simmonsco-intl.com/

- geophysicist M. King Hubbert http://en.wikipedia.org/wiki/Hubbert_peak_theory

- O&G Companies, e.g. BP http://www.bp.com/sectiongenericarticle.do?categoryId=9023771&contentId=7044470

Timing:

Web Resources:

Oil Reserves http://en.wikipedia.org/wiki/Oil_reserves

Peak Oil http://en.wikipedia.org/wiki/Peak_oil

Hubbert Peak Theory http://en.wikipedia.org/wiki/Hubbert_peak_theory