Oil will run out 100 years

[samsungster]

---

Oil will run out 100 years before new fuels developed—study

WASHINGTON DC, United States—The world will run out of oil around 100 years before replacement energy sources are available, if oil use and development of new fuels continue at the current pace, a US study warns.

Researchers at the University of California, Davis (UC-Davis) used the current share prices of oil companies and alternative energy companies to predict when replacement fuels will be ready to fill the gap left when oil runs dry.

And the study's findings weren't very good for the oil-hungry world.

If the world's oil reserves were the 1.332 trillion barrels estimated in 2008 and oil consumption stood at 85.22 million barrels a day and growing yearly at 1.3 percent, oil would be depleted by 2041, says the study published online last week by Environmental Science and Technology.

But by plugging current stock market prices into a complex equation, UC-Davis engineering professor Debbie Niemeier and postdoctoral researcher Nataliya Malyshkina calculated that a viable alternative fuel to oil will not be available before the middle of next century.

The researchers analyzed the share prices of 25 oil companies quoted on US, European, and Australian stock exchanges, and of 44 alternative energy companies that produce fuels such as ethanol or bio-diesel, or are developing fuel cells, batteries, and propulsion systems aimed at replacing gasoline and diesel in vehicles of the future.

What they found is that the market capitalization, or total value of all stock shares, of traditional oil companies far outstripped that of the alternative energy companies.

That indicated to them that investors believe oil is going to do well in the near future and occupy a larger share of the energy market than alternative energy, said Malyshkina.

Oil will run out 100 years before new fuels developed—study - INQUIRER.net, Philippine News for Filipinos

[P-Chan]

so the race is on...

[orochimaru700]

mahurot man gyud na ang oil ky organic material ra mana nga mostly naa sa seabed...

mao nang naay dako kaau nga reserve sa oil ang america sa Alaska.... ilaha ra nang future use...

in short.. nag horde na ang americans karon sa oil sa Alaska..

[moklo]

Aw, mahurot man gani na naa na siguro ma invent nga Power Source nga pwede ma replace sa Oil.

[MoD]

patay naman pud ta ana.. hehe.. luoy atong mga anak ug apo..

[hobie]

its time to create and develop those small nuclear reactors like the ones on the movie Iron Man

[BIGDANE]

ug mahurot man gyud gani...ginoo ra sad mahibaw ani kay siya man nagbuhat bisag unsa pana ka science diha...hope katong mga hybrid or electric cars in the future dili sad gyud unta grabe ka mahal...

[yumi_0379]

patay naman pud ta ana.. hehe.. luoy atong mga anak ug apo..

mao. d na lng ta manganak ani pra dili sila louy. saon

[epoaxlan]

ig hurot aw mao nanang tyma makakita clag paagi sa pag kuha ug oil sa mindanao. naa man daw daghan dha lawm lng jud daw ang dagat dha.

[takas bahay]

No problem...By that time humankind will be able to develop an efficient alternative source/method of generating power and most probably in a much environmental friendly way...Actually a lot of alternate methods and sources are already been invented/discovered but the problem is the wala palang na sila supportahi pag ayo sa mga nagkalain-laing government sa kalibutan for various lame reasons masked behind convincing marketing strategies and advices.