Plenty of oil out there
For more than 100 years, people have been claiming the world is running out of oil. But there is no factual support for the claim that the world’s petroleum resources are nearing exhaustion. The world has enough oil left to supply demand through the end of this century.
In 1954, the year I was born, the world had 158 billion barrels of petroleum in reserve, about 32 times the annual production rate of 5 billion b...
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