Ali.009
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Pakistan coal reserves are estimated at 175 billion tons which according to the Vice-Chancellor (VC) of Punjab University, Professor Dr Mujahid Kamran equal 618 billion barrels of crude oil. According to the most reliable analytical reports Saudi Arabian crude oil reserves are estimated at around 260 billion barrels. At 60 Dollars per barrel this equates to 3708 Billion Dollars or approx. 4 Trillion Dollars (at current prices). At future prices these reserves will be worth 8 or 24 Trillion Dollars. This is enough money to build the most modern infrastructure, the best roads, the best hospitals, the best education, the best universities, the best hi-speed rail system and the best public transportation system on the planet.
LAHORE: Punjab University (PU) Vice-Chancellor (VC) Prof Dr Mujahid Kamran has asked Prime Minister Yousuf Raza Gilani to direct the Finance Ministry to release funds for the Higher Education Commission (HEC).
Speaking at the inauguration of the Institute of Coal Technology at PU New Campus on Friday, Kamran said that the government had stopped the funding of HEC, resulting in the commission being unable to release grants to universities and teachers who were facing problems, according to a press release. He added that many development projects of the HEC were being adversely affected by the financial cuts. He said that the government should not “paralyse universities by stopping the HEC’s funds”
It is pedalogical to know that Saudi Arabia only sells about 9 Billion Barrels of Oil per day. It has the best infrastructure in the world, with a cradle to grave welfare system for its citizens, superb freeways, fantastic hospitals and an infrastructure that is the envy of the world.
Summary of Reserve Data as of 2007Country Reserves 1 Production 2 Reserve life 3
109 bbl 109 m3 106 bbl/d 103 m3/d years
Saudi Arabia 260 41 8.8 1,400 81
Canada 179 28.5 2.7 430 182
Iran 136 21.6 3.9 620 96
Iraq 115 18.3 3.7 590 85
Kuwait 99 15.7 2.5 400 108
United Arab Emirates 97 15.4 2.5 400 106
Venezuela 80 13 2.4 380 91
Russia 60 9.5 9.5 1,510 17
Libya 42 6.7 1.8 290 63
Nigeria 36 5.7 2.3 370 43
United States 21 3.3 4.9 780 11
Mexico 12 1.9 3.2 510 10
Total of top twelve reserves 1,137 180.8 48.2 7,660 65
Notes:
1 Claimed or estimated reserves in billions (109) of barrels (converted to billions of cubic metres). (Source: Oil & Gas Journal, January, 2007)
2 Production rate in millions (106) of barrels per day (converted to thousands of cubic metres per day) (Source: US Energy Information Authority, September, 2007)[15]
3 Reserve to Production ratio (in years), calculated as reserves / annual production. (from above)
A couple of Chinese companies have already signed Memorandum’s of Understanding to excavate and process this clean coal energy.
He said that the country must focus on establishing coal power plants as Pakistan has one of the largest global coal reserves. Kamran said that ultimately Pakistan had to resort to coal power generation and the PU Institute of Coal Technology would play a key role in this regard. Speaking on the occasion, institute Director Dr Shafqat Nawaz said that coal remained a major energy source for a large number of countries, including China, which meets 78 percent of its electricity demand from coal; and India, which fulfills 77 percent of electricity demand from coal.
“Thar coal reserves have 175 billion tonnes of coal, which is equivalent to 618 billion barrels of crude oil,” he added.
Pakistan’s credit crunch in temporary. Once the country gets over the hump in the next few years, it can begin improving its infrastructure which is the best in South Asia even now.