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Re: Economic rebound
Back when I was in college, my favorite professor stated that world oil production will peak in 2006. He's was a smart man and described to me the variables involved. Oil has mainly been mined for the last 100 years. Rockefeller's Standard Oil was the first company to drill for oil in huge volumes. So if (and bare with me, they're a few variables) you take all the production numbers in volume of all the oil ever drilled by all the oil companies in the world for all the years that it was massed produced; and taking the average thickness of the crust of the Earth (with that value and taking the Earth to be an ellipsoid, you could determine the volume). So you have two volumes, the volume of produced oil and the volume of the Earth's crust. You look up the probability of oil being located in finite local piece of the crust in a geophysist's handbook or whereever (this value will be a dimensional coefficient). Multiply that coefficient by the Earth's crust's volume and subtract that from the Oil that's already been produced. There you have it, the remaining amount of Earth's oil. Assumptions used: no new oil has naturally been made. I predict that in my lifetime, I will drive a car that runs on something other than gasoline. Regards, Jake
PS that was some good thought for food on my lunch break.
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