Quote:
Originally Posted by stoopid
It's a finite resource. Unless BP has some dark magic or another Earth in their back pocket...
Regarding the '70s projections, those are 'best guesses' used to anticipate and make decisions beforehand, as such they tend to be on the conservative side. The only thing buying us time are the new oil fields discovered since then and overall fuel efficiency outrunning (for a brief time) increased demand. We're most certainly still on course for running out of oil sooner than later. Moral of the story - Enjoy it while you can.
I'm not a fan of running out of oil, I'm just unable to detach myself from the reality of the situation to see it as anything else. An inevitable dead end.
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Did you even look at the graph? Known oil reserve are growing. Not contracting. I have as much faith in today's "best guesses" as those made in the 70s. "
In the Gulf of Mexico alone, about 1 billion barrels of new oil have been found each year for 25 years".
Projections are based on what is known today. No new discoveries, no drilling new wells, no new technology for extracting. Where does that leave the end of our finite resource today?