Global Peak Oil

As the population of mankind has expanded we have begun to consume more and more oil. Our appetite for oil seems to know no limits or boundaries, in fact since 1859, we have consumed 1 trillion barrels of oil. At our current rate we will consume 60 trillion barrels of oil over the next 20 years, a level that is almost incomprehensible.

To offset our consumption we rely on the discoveries of oil fields that are so huge, they are described as GIANT oil fields. These fields, however, are rare and new discoveries have declined dramatically since the 1960s. We rely on these fields for their large reserves.

The last big oil field discovered, Jack, was found in 2006. Before Jack, another one was found in 2003 off the coast of Brazil, a country so frightened by oil dependency it has switched the entire nation to an ethanol backed economy. The giant deepwater field named Tupi has been found since, and whether the technical challenges in producing such a field can be met remains to be seen.

The world needs many more giants just to replace the oil we’ve already consumed. The fact remains that we use up much more oil each day then we are possible ever going to replace. We aren't even coming close.

next

Home | About Us | The Eno Team | Testimonials | Client Login | Contact Us | FAQs | Site Map
Web Design by eLink Design, Inc. | Hosted by Intelliwire, Inc.
©2017 Eno Petroleum Corporation. All Rights Reserved.

There are significant risks associated with investing in oil and gas ventures. The above information is for general purposes only and is not a solicitation to buy
or an offer to sell any securities. General information on this site is not intended to be used as individual investment or tax advice. Consult your personal tax
advisor concerning the current tax laws and their applicability and effect on your personal tax situation.