Friday, October 29, 2010

Good morning,

Although not as widely discussed as Global Warming, Peak Oil
is much debated by those who are aware of it. While a few
hold outs still believe that oil is somehow a renewable
resource, or that there is more oil under the ground and
oceans than humankind will ever need, most of those who do
debate Peak Oil don't argue about if it will happen, but
when it will happen.

Some believe the decline will begin in twenty years, some
believe it will begin in fifty years and some believe it
has already begun.

The debate arises from the fact that it is impossible to
know how much oil is actually left in the ground, but as
increasingly effective surveying methods are applied around
the world a more accurate and grimmer picture begins to
emerge.

Please scroll down for details from a recent story about
Alaska's oil reserves estimate on http://news.blogs.cnn.com


For more information on the Peak Oil phenomenon and what the
consequences are, check out this article in the Living Green
archive...

http://gopherarchives.gophercentral.com/Living_Green_-__Peak_oil.aspx

Thanks for reading,

Your Living Green editor

Email the Editor


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Alaska's untapped oil reserves estimate lowered 90 percent

The U.S. Geological Survey says a revised estimate for the
amount of conventional, undiscovered oil in the National
Petroleum Reserve in Alaska is a fraction of a previous
estimate.

The group estimates about 896 million barrels of such oil
are in the reserve, about 90 percent less than a 2002
estimate of 10.6 billion barrels.

The new estimate is mainly due to the incorporation of
new data from recent exploration drilling revealing gas
occurrence rather than oil in much of the area, the geo-
logical survey said.