Geography Reference
In-Depth Information
believe that they are the result of long-term decay and metamorphosis of organic matter. Thus,
even as I write this, nature is at work doing whatever it does to turn, say, today's ocean bed
into tomorrow's oil field.
But that process takes millions of years, in contrast to humanity's needs, which are exhausting the
world's oil inventory in a figurative blink of the eye. The world's first commercial oil was drilled in
Pennsylvania in 1859. Now, a mere century-and-a-half later, people are contemplating the end of the
“petroleum era.” But I'm getting a little ahead of the story.
Petroleum
Next to air and water, petroleum is perhaps the most essential resource of the moment, at least as far
as developed countries are concerned. Arguably it can be considered the lifeblood of the American
economy, if not the American way of life. Skeptics need only imagine waking up one morning to dis-
cover that every car, truck, motorcycle, and internal combustion engine no longer functions for lack
of gasoline.
Presently, global petroleum reserves stand at about 158 billion barrels (see Figure 16-2 for a look at
the geography of petroleum), and are being consumed at a rate of 3.1 billion barrels per year. That
means we currently have about a (158 ÷ 3.1 =) 51-year supply of oil.
In the years ahead, new petroleum deposits are likely to be discovered, but global demand for oil is
also likely to rise. How this math will play out can't be accurately determined at present, but clearly
the days of the “petroleum era” are numbered. Obviously, if a replacement for petroleum is not found,
its price will rise even further as reserves decline. As that occurs, the economic and political power of
countries that possess it will continue to increase. On the other hand, growing scarcity is also likely
to increase development of alternative sources of energy.
Coal
The world's coal supply greatly surpasses petroleum in quantity and longevity. The estimated global
coal reserve is in excess of 1 trillion metric tons while annual production is about 4.6 billion metric
tons. That works out to nearly a 220-year global coal supply at the current rate of consumption. The
United States possesses nearly 25 percent of all of the world's known deposits, and at the current rate
of production (mining) that will last for approximately 250 years.
If you're thinking, “Gee, that's terrific,” then you need to temper your optimism for two reasons.
First, most coal burns dirty, so its use comes at the expense of air quality (see the “Grades of coal”
sidebar later in the chapter). As a result, substantial research dollars are being spent to find ways to
