Petrol and Gasoline have been described as "limited resources"; once they are gone, it will take another age of dinosaurs before we have as much petrol as before.
How true is this?
Check out this page (Click!) at fact-index.com. A link of the page to gasresources.net discusses the "abiotic" concept of petroleum (mooted by Russian scientists), which states that our petrol resources slowly replenish themselves, constantly.
Here is an extract:
This theory also argues that oil supplies slowly replenish themselves, and that oil reserves are thus much larger than have current estimates state. This theory is still unproven, however.
Today I read in bloomberg.com that the Saudi OPEC Minister has estimated that the Saudi capacity for production of oil has increased. Yep: increased! Here is an extract:
Two new Saudi oil fields, called Qatif and Abu Safah, will be fully on line this month, adding 800,000 barrels to daily capacity, the minister said. Saudi Arabia plans to produce 9.5 million barrels a day through next month, in line with current supplies, al-Naimi said.
``Our official current capacity is 10.5 million barrels a day,'' al-Naimi said. ``We have just brought on an 800,000-barrel- a-day increment. Our new capacity can be anywhere above that.
``The only way to know what capacity is is when you are running flat out,'' al-Naimi said, declining to specify what is the limit for Saudi daily output.
OPEC can meet an increase of as much as 2 million barrels a day in demand in 2005, the Saudi minister told reporters.
Taxes may be going up on petrol, here in Malaysia. And that seems to be part of a rising trend: Taxi fares just took a price hike for 40%. Hello, Government?
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