After oil

Prospect Magazine

After oil

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The real problem with oil: it’s going to run out

Beneath the seabed off the coast of Saudi Arabia is an oil field called Manifa. It is giant, and its riches are almost untapped. There is, however, a snag. Its oil is heavy with vanadium and hydrogen sulphide, making it virtually unusable. One day the technology may be in place to remove these contaminants, but it will not be for a long time, and when, or if, it becomes possible, it will do no more than slightly reduce the rate at which the world’s oil supplies slip away towards depletion. Even this field has one advantage over the massive reserves of oil which middle east suppliers are said to hold, ready to secure the future of industrial civilisation. Unlike those fantasy fields, Manifa does actually exist.

In region after region, the story is of ageing fields, of the wrong sort of oil, of nitrogen being pumped into wells to keep

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Author

David Fleming

David Fleming's book "The Lean Economy" is forthcoming 


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