Talking Point:
These figures are from Dr. Peter McCabe with the USGS; studies by others show variation in absolute numbers but a similar direction. We are getting a handle on world oil resources, discovered and yet to be found. McCabe’s study indicates that about 1/3rd of total oil reserves have been produced, with nearly that much discovered and waiting to be produced. The remainder consists of future discoveries and a similar (and growing) amount of reserve growth in existing fields.
Another study by Brian Maxted..
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