“Gauthier, part of a federal team tracking global oil reserves, doesn’t believe that the world is close to running dry. We may be able to extract an additional 1 trillion barrels from existing fields, he maintains, thanks to new techniques, such as using steam to push more oil out. West African waters show great potential, he said. Unconventional sources, like turning oil shale or natural gas into liquified fuels, could boost reserves to nearly 10 trillion barrels.”
“At the world’s current rate of consumption — 30 billion barrels of liquid hydrocarbons a year — that’s enough to meet current global demand for another three centuries.”
And finally:
“we’re still burning it faster than we’re discovering it.”
