We have the results of 7 years of work, with almost no funding, and you are closing the book?
Here is an indirect argument:
The oilcompanies are very good at bullshitting us. Remember, they are the ones paying scientists to argue AGAINST global warming. So if oil was an infinite source, wouldn't you think they would use it as an argument? After all, if responsible governments think oil eventually runs out, they should start to look somewhere else, which is not good for Big Oil. But Big Oil is not using the abiotic argument, that tells me it is not even viable for bullshitting us.
People also said it would never be economically viable to extract oil from shale.
That was when oil was at $3 per barrel. It is still not viable oil at $60 per barrel, although we are getting to the economic treshold. But that is beside the point, when we aregue about the finite nature of hydrocarbons, specially light crude.
One other thing is the production ratio, how much energy needs to extract 1 barrel of oil. Back in the Texas old days of the 30's it was 1 barrel for every 5 barrels extracted. Today it is down to 1 barrel used to extract 2 barrels, and obviously closer we get to the 1 :1 ratio, it becomes less and less economic to extract the oil. Even a 1 to 1.2 would be a huge waste of energy, which is exactly the case with tarsands...
Anyway, the Earth is a very big ball.
Apparently not anymore. Most of the possible places were searched. We can hope to find a giant field, but you can also play the lottery as a retirement plan...
For all we know, there is 3,000 years of oil in reserve even taking increased consumption rate into account.
OK, not to take too personally, but your numbers are bullshit. It is a simple math, dividing the known reserves with the current demand and you get NOWHERE close to not even 300 years. Also as YOU mentioned it is enough when production starts to decline, you don't have to run out to have problems.
Out of the 3 biggest oilfields, 2 already peaked, and the 3rd is most likely peaking now. There were no major big oilfield discoveries in the last 20 years.
Add that together and see what you get....
my assumption is that we will not have a problem even if we run out of oil at that time.
We ALREADY have problems. China has a hard time to get all the oil what its exploding economy needs. We are already fighting petrowars in Afghanistan (natural gas) and Iraq (oil).
Also most people are not aware that we use oilproducts in a much wider range than just for transportation. The technological revolution of the last 100 yearsd would have been impossible without petroleum....
And those people keep dying while we find TRILLIONS more in reserve,
Feel free to provide examples so I can show you they don't exists....
and new ways of extracting previously unreachable fuel.
True, but see my above note on the economy of extraction.
I just don't see the sky falling the way the media sees it.
The media? The media is actually ignoring the issue. This is much more serious and complex, it should be in the news everyday. Well, it is in the case of Iraq....
I'm a scientists, first and foremost.
I am an engineer with common sense and practicality...
Hey, I would be the happier if you were right, but I researched the problem and you are not. The end of the oilage is going to come to a quick end in 50 years if not sooner....