Where Do Total Recoverable Oil Reserves Stand?

When I was a child we were told by our teachers in school that oil and gas are finite resources that will one day run out. At the time it was thought that we would have peak oil before the year 2000. This point in time has slipped so many times that it’s hard to take it any more seriously. We have only used the easiest-to-reach, easiest-to-process, easiest-to-develop oil and gas. That’s a drop in the bucket. Most oil and gas are much harder to get. Figures vary widely but I have seen figures that give us more than 100 years before we are anywhere close to peak oil. My children and most likely my future grandchildren will be dead by then. And there are those that think that oil and gas will never run out as they are the real renewables. 

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