Gage’s Blog

             People are just getting the impact that the earth is slowly running out of oil.  Oil is in so high demand because we need it for our cars and gas plus plastic and even toothpaste.  About 40% of the worlds energy is ran on Texas tea or commonly know as oil.  An estimate of about 2.6 trillion barrels of oil is still in the ground ready to be pumped.  So far 1.7 trillion barrels have been found or know as “discovered oil.”  Our biggest supplier of oil is Saudi Arabia this country it is a OPEC member.  OPEC stand for Organization of Petroleum Exporting Country’s tells how much they should sell their oil for. Use geophysicist M. King Hubbert formulas it is estimated that oil production will peak at 2030.  Also gas reserves will help us for about 50 years or maybe a little more.