Beyond 2010, this site has noted a large supply of $35-65 oil and oil substitutes.
1. Petrobanks THAI/Capri and other oilsand and heavy oil processes could make over a trillion barrels of oil affordable at $20,000 per producing barrel. The oil industry spending of over $200 billion/year on exploration and development would be able to shift over to this process and access known oilsand and heavy oil supplies. The per barrel price using all of the exploration and development budget would add ten million barrels per year added to offset declining oil fields. No exploration risk would be needed because we know where the oilsands are, then it is just develop them as cheap and fast as possible.
2A. Multi-stage horizontal fracturing can be used to access oil in the Bakken Formation and older wells. Old wells in the USA have 360 billion barrels left in them, which have not been affordable to access. Multi-stage horizontal fracturing lowers the costs by 2-3 times.
3. Coal gasification and liquification is coming on stream and could be million barrel per day additions and growing from 2016+.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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