Featured Research

from universities, journals, and other organizations

How Much Oil Have We Used?

Date:
May 8, 2009
Source:
Inderscience
Summary:
Estimates of how much crude oil we have extracted from the planet vary wildly. Now, researchers have published a new estimate in the International Journal of Oil, Gas and Coal Technology that suggests we may have used more than we think.

New calculations suggest that experts have grossly underestimated how much oil the world has used already.
Credit: iStockphoto/Henrik Jonsson

Estimates of how much crude oil we have extracted from the planet vary wildly. Now, UK researchers have published a new estimate in the International Journal of Oil, Gas and Coal Technology that suggests we may have used more than we think.

The idea that we are running out of oil is not a new one, but do we even know how much oil we have extracted from since the first commercial oil wells were sunk in the middle of the nineteenth century? In 2008, chemists Istvan Lakatos and Julianna Lakatos-Szabo of the Hungarian Academy of Sciences theorised that less than 100 billion tonne of crude oil has been produced since 1850 and that the average annual production rate is less than 700 million barrels per year.

They compared proven reserves and estimates of yet-to-find (YTF) resources and echoed the sentiment that we will soon face oil shortages even though a substantial part of those reserves remain in the ground untapped.

Now, John Jones in the School of Engineering, at the University of Aberdeen, UK, suggests that the figures cited by Istvan Lakatos and Julianna Lakatos-Szabo for which they give no references grossly underestimates how much oil we have used already. Jones says that we have used at least 135 billion barrels of oil since 1870, the period during which J.D. Rockefeller established The Standard Oil Company and began drilling in earnest.

The oil industry now spans several generations, says Jones, and has historically been as uninterested in how much oil has been drawn as were economists, day-to-day and annual figures being of much greater concern. However, in 2005, The Oil Depletion Analysis Centre (ODAC) in London provided a total figure of almost 1 trillion barrels of crude oil (944 billion barrels) since commercial drilling began. Even that figure does not add up, Jones explains.

He has calculated a better estimate by using the volume of a barrel (42 US gallons, or 0.16 cubic metres) and a crude oil density of 0.9 tonnes per cubic metre. ODAC's 944 billion barrels is thus the equivalent of 135 billion tonnes.

Jones explains that this figure is of the same order of magnitude as the estimate offered by Lakatos and Lakatos-Szabo, but is nevertheless 35% higher than ODAC's figure. "Their assertion that less than 100 billion tonnes has been produced is significantly inconsistent with the ODAC," says Jones. The implication is that either ODAC or the Hungarian team are incorrect in their estimates, and suggests that clarification of this important figure is now needed.


Story Source:

The above story is based on materials provided by Inderscience. Note: Materials may be edited for content and length.


Journal References:

  1. Jones et al. Total amounts of oil produced over the history of the industry. International Journal of Oil Gas and Coal Technology, 2009; 2 (2): 199 DOI: 10.1504/IJOGCT.2009.024887
  2. Lakatos et al. Global oil demand and role of chemical EOR methods in the 21st century. International Journal of Oil Gas and Coal Technology, 2008; 1 (1/2): 46 DOI: 10.1504/IJOGCT.2008.016731

Cite This Page:

Inderscience. "How Much Oil Have We Used?." ScienceDaily. ScienceDaily, 8 May 2009. <www.sciencedaily.com/releases/2009/05/090507072830.htm>.
Inderscience. (2009, May 8). How Much Oil Have We Used?. ScienceDaily. Retrieved July 22, 2014 from www.sciencedaily.com/releases/2009/05/090507072830.htm
Inderscience. "How Much Oil Have We Used?." ScienceDaily. www.sciencedaily.com/releases/2009/05/090507072830.htm (accessed July 22, 2014).

Share This




More Matter & Energy News

Tuesday, July 22, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Government Approves East Coast Oil Exploration

Government Approves East Coast Oil Exploration

AP (July 18, 2014) The Obama administration approved the use of sonic cannons to discover deposits under the ocean floor by shooting sound waves 100 times louder than a jet engine through waters shared by endangered whales and turtles. (July 18) Video provided by AP
Powered by NewsLook.com
Sunken German U-Boat Clearly Visible For First Time

Sunken German U-Boat Clearly Visible For First Time

Newsy (July 18, 2014) The wreckage of the German submarine U-166 has become clearly visible for the first time since it was discovered in 2001. Video provided by Newsy
Powered by NewsLook.com
Obama: U.S. Must Have "smartest Airports, Best Power Grid"

Obama: U.S. Must Have "smartest Airports, Best Power Grid"

Reuters - US Online Video (July 17, 2014) President Barak Obama stopped by at a lunch counter in Delaware before making remarks about boosting the nation's infrastructure. Mana Rabiee reports. Video provided by Reuters
Powered by NewsLook.com
Crude Oil Prices Bounce Back After Falling Below $100 a Barrel

Crude Oil Prices Bounce Back After Falling Below $100 a Barrel

TheStreet (July 16, 2014) Oil Futures are bouncing back after tumbling below $100 a barrel for the first time since May yesterday. Jeff Grossman is the president of BRG Brokerage and trades at the NYMEX. Grossman tells TheStreet the Middle East is always a concern for oil traders. Oil prices were pushed down in recent weeks on Libya increasing its production. Supply disruptions in Iraq fading also contributed to prices falling. News from China's economic front showing a growth for the second quarter also calmed fears on its slowdown. Jeff Grossman talks to TheStreet's Susannah Lee on this and more on the Energy Department's Energy Information Administration (EIA) report. Video provided by TheStreet
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins