This is an interesting article:
http://www.spe.org/spe/jsp/basic/0,,...109511,00.html
Check out this quote:
Quote:
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At 2003 consumption levels [2], the remaining reserves represent 44.6 years of oil and 66.2 years of natural gas. Does this mean that the world will be out of fossil fuels in 50 years or so? That theory has been around since the 1970s. In fact, the figures for years of remaining reserves have remained relative constant over the past few decades as the industry has replaced consumption with newly discovered oil and gas deposits and has developed technologies to increase the amount of oil and gas that can be recovered from existing reservoirs.
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Of course this source is bias, however I find it very interesting how they mention that the theory of running out of oil is over 30 years old and estimated production levels are still the same and even growing. Fascinating.
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