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Why Space ? Everyone does want more. What Abundance really means and looks like
From
Gregor MacDonald claims to be an oil analyst and wrote at Zero Hedge a couple of days ago. I had already corrected this "oil analyst" that crude oil did not reach a ceiling in 2005 and has increased by 3-4 million barrels per day and oil liquids has increased by almost 6 million barrels per day.
Gregor asked the question – why is Diamandis thinking about mineral mining in space, when resources here on Earth — in his view — are so abundant?
Sure a lot of Earth-based resources but getting and using it here ?
1.53 trillion barrels Piceance Basin of Colorado (USGS, June 2011 oil shale)
1.44 trillion barrels Green River formation (USGS, June 2011 oil shale)
1.32 trillion barrels for the Uinta Basin of Utah and Colorado. (USGS, June 2011 oil shale)
260-500 billion barrels Monterey Formation (tight oil)
271-503 billion barrels Bakken Formation (tight oil)
etc…
Aggressive use of new fracking technology and combined with fire flooding and water flooding could enable 20-30% recovery rates. Large amounts of the Oil shale is likely recoverable with fire flooding. So 6.5 trillion to 9.5 trillion barrels of oil, with 20-30% recovery rates is 1.3 to 2.8 trillion barrels of oil. Oil Shale like in the Green River Formation cannot be recovered with horizontal drilling. It will require fire flooding or some other likely insitu method.
Technology should make horizontal drilling three times cheaper.
Fire Flooding and other technology can make it very affordable to get oil from the oilsands.
Technology for affordably extracting 4 billion tons of uranium from seawater is close.
There is enough and the technology will be here to get it and use it affordably. However, the technology to clean has historically lagged and that would be a big problem.
Yet Clearly China and India and everyone else wants their share
Everyone in the developing world wants to at least catch up the US and Europe. So in 2050 that means about 10 billion people with $100,000 per person. So a $1000 trillion global economy. We have demonstrations here where the 99% want to get to the 1% level of income.
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