Depletion and the future availability of petroleum resources
This study assesses the threat that depletion poses to the availability of petroleum resources. It does so by estimating cumulative availability curves for conventional petroleum (oil, gas, and natural gas liquids) and for three unconventional sources of liquids (heavy oil, oil sands, and oil shale)...
| Main Authors: | , , , |
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| Format: | Journal Article |
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International Association for Energy Economics
2009
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| Online Access: | http://hdl.handle.net/20.500.11937/31861 |
| _version_ | 1848753501950181376 |
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| author | Aguilera, Roberto F. Eggert, R. Lagos, G. Tilton, J. |
| author_facet | Aguilera, Roberto F. Eggert, R. Lagos, G. Tilton, J. |
| author_sort | Aguilera, Roberto F. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This study assesses the threat that depletion poses to the availability of petroleum resources. It does so by estimating cumulative availability curves for conventional petroleum (oil, gas, and natural gas liquids) and for three unconventional sources of liquids (heavy oil, oil sands, and oil shale). The analysis extends the important study conducted by the U.S. Geological Survey (2000) on this topic by taking account of (1) conventional petroleum resources from provinces not assessed by the Survey or other organizations, (2) future reserve growth, (3) unconventional sources of liquids, and (4) production costs. The results indicate that large quantities of conventional and unconventional petroleum resources are available and can be produced at costs substantially below current market prices of around US$120 per barrel. These findings suggest that petroleum resources are likely to last far longer than many are now predicting and that depletion need not drive market prices above the relatively high levels prevailing over the past several years. |
| first_indexed | 2025-11-14T08:25:32Z |
| format | Journal Article |
| id | curtin-20.500.11937-31861 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:25:32Z |
| publishDate | 2009 |
| publisher | International Association for Energy Economics |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-318612017-09-13T15:18:39Z Depletion and the future availability of petroleum resources Aguilera, Roberto F. Eggert, R. Lagos, G. Tilton, J. Oil reserve assessment production cost depletion Natural gas This study assesses the threat that depletion poses to the availability of petroleum resources. It does so by estimating cumulative availability curves for conventional petroleum (oil, gas, and natural gas liquids) and for three unconventional sources of liquids (heavy oil, oil sands, and oil shale). The analysis extends the important study conducted by the U.S. Geological Survey (2000) on this topic by taking account of (1) conventional petroleum resources from provinces not assessed by the Survey or other organizations, (2) future reserve growth, (3) unconventional sources of liquids, and (4) production costs. The results indicate that large quantities of conventional and unconventional petroleum resources are available and can be produced at costs substantially below current market prices of around US$120 per barrel. These findings suggest that petroleum resources are likely to last far longer than many are now predicting and that depletion need not drive market prices above the relatively high levels prevailing over the past several years. 2009 Journal Article http://hdl.handle.net/20.500.11937/31861 10.5547/ISSN0195-6574-EJ-Vol30-No1-6 International Association for Energy Economics restricted |
| spellingShingle | Oil reserve assessment production cost depletion Natural gas Aguilera, Roberto F. Eggert, R. Lagos, G. Tilton, J. Depletion and the future availability of petroleum resources |
| title | Depletion and the future availability of petroleum resources |
| title_full | Depletion and the future availability of petroleum resources |
| title_fullStr | Depletion and the future availability of petroleum resources |
| title_full_unstemmed | Depletion and the future availability of petroleum resources |
| title_short | Depletion and the future availability of petroleum resources |
| title_sort | depletion and the future availability of petroleum resources |
| topic | Oil reserve assessment production cost depletion Natural gas |
| url | http://hdl.handle.net/20.500.11937/31861 |