“Our data confirm that the world has enough proven reserves of oil, natural gas and coal to meet the world’s needs for decades to come,” says the review.
This was indeed music to ears, especially since coming from a Western oil major.
“The challenges the world faces in growing supplies to meet future demand are not below ground, they are above ground. They are human, not geological,” argued Tony Hayward, BP’s group chief in an introduction to the “Statistical Review of World Energy.” Here he sounded very much like an OPEC man, as this is what the producers have been stressing for years now.
Worldwide proven oil reserves, excluding the controversial Canadian tar sands, stand at 1.26 trillion barrels, enough for another 42 years of production at last year’s rates. There is thus enough gas for another 60 years and enough coal for another 122 years, the BP report underlined.
...
With the BP underlining there was enough oil beneath the surface to meet the global crude needs, one could definitely be more confident and reassured of the future of this crude driven civilization. Peak Oil proponents need to review mathematics rather closely.
http://www.arabnews.com/?page=6§ion=0&article=123807&d=19&m=6&y=2009
Party ON people, peak-oilers are described as idiots in this article because they can't do mathematics. It's so simple and we don't get it. So ... party on, full speed ahead!
