Is “Peak Oil” a fiction?
June 15, 2012
New figures from BP’s annual Statistical Energy Review pokes a hole in the concept of “peak oil.”
It trashes the idea that we are imminently in danger of exhausting the world’s hydrocarbon supply. Here’s what it says:
“The world is not structurally short of hydrocarbon resources but long lead times and various forms of access constraints in some regions continue to create challenges for the ability of supply to meet demand growth at reasonable prices.”
These charts show the increase in proved reserves decade by decade. Who do you believe?
Posted in: Infographic of the day, News