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Q.

Whats gonna happen to Oil ? Are the deposits in Gulf gonna really dry up one day ? What are the present alternatives available ? What are the alternate sources of future say, solar or nuclear powered energy ? Are these substitutes, cost effective ? And are these substitutes capable to cope with worlds constant growing demands replacing totally, conventional use of crude oil & petroleum products ?

Cockail Raj

Asked by Cocktail, 21 May '08 02:35 pm
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Answers (25)

1.

By the latest Oil prices bolted a new record high $132 per barrel. Oil producing companies hiked the oil prices due to current deteriorating trend of the dollar value. So, this time President Bush cannot "blame" on Indians for the most consumption of oil.

I think other substitute methods may not be successful or costly to meet the world requirements
Answered by Joseph Chacko, 22 May '08 03:26 am

 
  
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2.

Substitutes for oil are necessary ..no doubt about that. Conventional sources are non-renewable sources of energy.. they will finish off one day.. so whether we like it or not it is time to look at alternative renewable sources of energy..even if they are more expensive.
Answered by joyoti sen, 21 May '08 10:17 pm

 
  
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3.

With stocks of oil reserves depleting day by day we have five alternatives left. 1) Coal, Solar energy 3) Production of electricity through wind turbines 4) Natural gas 5) Nuclear power. The world must now concentrate to develop these as alternative source of energy until these too are replaced by plasma propulsion engines by coming generations.
Answered by Jack Johnson, 21 May '08 03:11 pm

 
  
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4.

The Middle East region of the world is rich in oil but these countries in this region have been at war with each other so a lot of world politics have been played in-between these countries and western countries like US, UK etc for the sake of oil. These developed western countries may have greater weapons but without oil they are merely toys hence all powerful countries of the world are at mercy of these middle Easter countries and they always try their best to rule over the middle east countries or atleast to have them on their side so that they can have a regular and reasonable supply of oil to their countries, for example, US occupied Iraq just for the sake to have control on its global oil resources.

I cant predict if the deposits in Gulf gonna really dry up one day or not but yes one thing is for sure, when cheap cars like NANO are introduced in the market and when even a middle class family can afford a car then to run them, there will be a huge demand of oil which will in ...more
Answered by Rukhsana.Siddiqui, 21 May '08 03:40 pm

 
  
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5.

Only one thing can happen to oil - and that is one fine day, the stocks will run out one way or other for sure. I don't have any expert knowledge on the subject and what is presented here is from a layman's point of view.

The estimated oil reserves available as on date is around 1200 billion barrels (a bn = 1000 million), of which OPEC has around 922 bn and others have 273 bn. There are claims that Alaska has vast reserves of oil in the deep coal beds underneath, which have not been surveyed. Incidentally, there is a U.S Environment Act that prevents over exploitation of natural reserves, thereby destroying the unique environment of Alaska. All attempts by the present admiinstration to introduce a new bill to overcome this has been defeated by the powerful environmental lobby. Aparf from this, it is believed, beneath the Antarctic lies huge reserves that are more than any known reserves. But till we reach that desperation point, it is unlikely the U.N treaties for protection of Ant ...more
Answered by Omega, 21 May '08 04:26 pm

 
  
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6.

Bahrain was the first gulf country to discover oil in 1931 and since then all gulf countries found that they were sitting on a black gold mine .....Today Two-thirds of the world's oil reserves lie in the Middle East ...with Saudi, Iran and Iraq leading the production. Next to Gulf, oil reserves are found in plenty in Canada, Russia and Venezuela....the rest of the countries including India have discovered very little oil resource. All together, presently 98 countries in the world have oil reserves...One cannot rely on middle east reserves because of political instability.

Presently the world resource of oil is said to be around 800 billion barrels but the per day consumption is said to be 76 million barrels. Now, going by the present demand and supply ...the oil will last for less than 30 years assuming the consumption remains the same as it is at present. Geologists also think that the present figures of oil reserves in Gulf is highly exaggerated ...In Kuwait last year, a journa ...more
Answered by sumitha, 24 May '08 02:29 pm

 
  
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7.

TIME IS THE BIGGEST SOLUTION . Many alternatives are thought by Govt and countrwide ppl are worried for this problem...Lets wait and watch but the situation is grim......Now if this situation continous the day is not far off to go by cycle to office
Answered by ANURADHA PATHAKJ, 23 May '08 05:22 pm

 
  
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8.

Petrol or no petrol I am pretty confident about man's will to live on and that too with comfort. He'll find out one way or another to keep him going.

Researches are going on to make the known substitutes (like solar) more viable and user friendly and to find newer options.

Who knows with newer development which country might become rich... (like Gulf region became in the last century).
Answered by rajneesh Rediff, 23 May '08 03:26 pm

 
  
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9.

The Oil stocks arent going to End before the Earth itself.
You are worried about the Oil.....??? What about Global Warming n other scary things related to it....??? Even if the Oil is finished, one or more substitutions can be invented. According to GOC (Gulf Oil Corporation) they can provide Oil to the World for the next 10 years, and even after that they have enough stocks for them till the next 25 years. So, that isnt a big issue for now.
But what about the ice melting in the Antarctica....??? The speed it is melting, I dont think the Earth will have a Bigger problem in the coming years more than this. The Greenery is chopped off everywhere in terms to make accomodation available. I donno what will be the condition in the next Five years....???
"The thought itself is really Scary." Lord save the Earth.
Answered by Nisha Kulkarni, 22 May '08 03:39 pm

 
  
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10.

As a layman what i feel is that its time to get back to the bicycle......not only will the oil problem be taken care of but, with it, we can also fight fat, decrease traffic and reduce pollution......because NOTHING (oil in this case) lasts forever.
Answered by Lion Heart, 21 May '08 05:01 pm

 
  
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