Could change things in Europe
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Dean of the Faculty of Technology and Mining in the northern Bosnian town of Tuzla, Abdulah Basic, told Bosnian media yesterday that some 500 million tonnes of oil could be located in several locations in northern Bosnia

link--

http://bosnianews.blogspot.com/2008/...posits-in.html

Makes sense. After all, Romania has been known for its oil fields (which were of great importance to the Germans in WWII), and Croatia is known to have some oil.

Could the Balkan oil fields possibly be an extension of the great oil fields of the Caucasus?

- Maha "oil's well in the Balkans tonight" Vailo

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500 million tons is a lot. Enough to supply the world's oil consumption for over a month.

Cool, that will help stave off: Resource wars, famine, recession and poverty. All bad things in my book.

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That’s about 3.5 billion barrels. The US uses 8 billion barrels per year while the world uses ~32 billion barrels per year. IOW, as Maha Vailo suggests this represents less then 2 months of global supply. Someone will walk away with a $350 billion dollar profit though.

Slanty drilling:

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I read an article somewhere where the author was saying that we need to use whatever oil we can find and have left to build our next infrastructure of renewables, otherwise we will have nothing left to build that next infrastructure with.

Nonsense! We'll use fusion power. It's only fifty years away.

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Hasn't fusion been "fifty years away" since the 1950s? According to Wikipedia, "a pamphlet from the 1970s printed by General Atomic stated that 'Several commercial fusion reactors are expected to be online by the year 2000.'"

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Fusion turned out to be harder than expected. On the other hand, there has been real progress in the last couple decades. I have little doubt we could build fusion power reactors (not just test reactors) in less than fifty years from now if there was sufficient money applied. However, I don't know if they would be economically competitive with other options, including conventional nuclear reactors. And, I have no doubt that the same people that are against conventional nuclear would also complain about DT fusion reactors.

Barring a breakthrough, I think practical widespread fusion will have to wait until late in this century, or early next.

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Not quite the problem he's making it out to be, you can synthesize a lot of interesting things by starting with some of the bio-alcohols or other stuff from living matter.

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