Ah, potential being the keyword. Many of the ideas I've seen so far are heavily in the other direction. Hydrogen cars are hopelessly expensive and explode. Ethanol is less efficient to gasoline on a ratio of 3:2, and think of all the extra corn that is needed to grow; The US uses 88 million gallons a day, and one acre yields 328 gallons of ethanol, meaning approximately 268, 293 acres A DAY dedicated to only corn.
There are other ways to get biofuels such as algae, pond plants, etc. I've done work on hyacinths.
Turning off the water while you brush your teeth saves two gallons of water a minute if it's on full blast, which is like crushing a mosquito and proclaiming you're helping stop malaria or yellow fever.
No one claims that doing so is doing anything great or dramatic. But if you multiply it by 365, you get close to 800 gallons saved a year. Multiply this by just a thousand people in a small town, and this becomes close to a million. That's a lot of water. Considering that more and more of our fresh water has to be treated with highly energised procedures such as desalination, or reverse osmosis, this potentially saves much more fossil fuel than you think.
Actually, the US does have upwards of 1.442 trillion barrels. The only problem with that is that massive percentage of it aren't just hanging out in a underground oil lake. They're buried in shale, and sand, and may not be recoverable, being considered 'unconventional'. Like stated earlier, about 198 billion barrels can be labeled as 'recoverable'.
Oil shale is not oil at all. It is finely-grained sedimentary rock â" more properly known as organic marlstone â" infused with kerogen, not oil. Kerogen is a dense blend of ancient algae and pond scum, and is an essential ingredient in oil and natural gas. But transforming kerogen to oil requires millennia, coupled with intense heat and crushing geologic pressure. Otherwise the kerogen remains a relatively energy-poor waxy deposit in sedimentary rocks, such as oil shale.
Unfortunately, there are additional huge drawbacks to this.
1) The entire process requires massive inputs of heat, energy and water, and produces a volume of pollutants and gases.
2) The kerogen in oil shale, which was not refined by eons of heat and pressure, has a very low energy density. As a result, oil shale remains perhaps the poorest choice among the carbon-based fuels. For comparison, oil shale contains one-tenth the energy of crude oil, one-sixth that of coal.
3) Refining synthetic oil from shale is a dirty, thirsty and destructive process. People living near fracking plants complain that the water from sources near them can just be lighted up, much like kerosene. At the same time, fracking takes huge amounts of water, to the point that people have started suing Texas companies.
Shale is not the way forward. It is non-renewable, highly dangerous to human health and the environment, and not very cost effective.
As for peak oil, current
proven reserves are at 20+ billion. The 198 billion comes about because of mathematical statistic nifty footwork. It is just a potential, and
technically recoverable figure.