Crude Oil and Lithium Reserves

abarrelfullabarrelfull wrote on 16 Jun 2011 07:32
Tags: reserves

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We are frequently told that hydrocarbons are a depleting resource and we need to find alternatives. One of the alternatives for oil is electrification of the vehicle fleet. However when you look at the reality its perhaps not as it seems.

BP has just released their statistical review which puts oil reserves at 46 years and gas reserves at 59.

In comparison, the IEA makes this comment in a recent press release:

There is a sufficient reserve base of lithium for widespread electric vehicle deployment at least through to 2030, probably much longer, even with rapid growth in sales.

So we have less than 20 years of lithium reserves, but more than 40 years of oil. Yet it is the oil that is the depleting resource that we need to find alternatives for.

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