OIl production is up

[Billnew]

Obama says "We're drilling all over the place" "Oil production is up" (heard while driving so can not quote)

This is true.
Production is higher then when he took office, but we are producing the same amount of oil as we did in 1952. demand is at 2012, production is at 1952, I think that is a problem.

(note; graph does not include 2011, I assume production will be higher but the trend would probably be about the same.)
File:US Crude Oil Production versus Hubbert Curve.png - Wikipedia, the free encyclopedia


File:US Crude Oil Production versus Hubbert Curve.png - Wikimedia Commons

alternate energy is great, but it won't power the nation for many decades yet to come.
$4+ gas will cut into the pocketbook of voters, which will cut into votes for the person in charge.

 

[DaisyDay]

If we don't have the refineries to process the oil, then prices will continue to rise.

 

[Rion]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

 

[stamperben]

Is it collusion that closed THREE refineries at the same time?

 

[Pommer]

Obama says "We're drilling all over the place" "Oil production is up" (heard while driving so can not quote)

This is true.
Production is higher then when he took office, but we are producing the same amount of oil as we did in 1952. demand is at 2012, production is at 1952, I think that is a problem.

(note; graph does not include 2011, I assume production will be higher but the trend would probably be about the same.)
File:US Crude Oil Production versus Hubbert Curve.png - Wikipedia, the free encyclopedia


File:US Crude Oil Production versus Hubbert Curve.png - Wikimedia Commons

alternate energy is great, but it won't power the nation for many decades yet to come.
$4+ gas will cut into the pocketbook of voters, which will cut into votes for the person in charge.

You do realize, (doncha), that the Hubbert curve is the estimated total possible petroleum production...IOW it would be very difficult (read expensive) to reclaim more than the red line indicates, thus raising the price even though more product is available.

A better linkie-poo

 

[chuckpeterson]

New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
https://tinyurl.com/ycvg5odz

In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic

1,651,000,000,000/315360000000000000=19 years left

My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.

If the numbers are correct, we need to act now before it is too late !!

Any suggestions?