Steve, don't you read anything other than doomsday sources?
World oil supply still plentiful, study shows
Updated: 2:21 p.m. MT Nov 14, 2006
HOUSTON - World oil production will not begin to fall for at least another 24 years, contrary to doomsday theories that supply is already in terminal decline, a prominent energy consulting group said Tuesday.
Cambridge Energy Research Associates said in a report that the world has some 3.74 trillion barrels of oil left -- enough to last 122 years at current consumption rates and triple the amount estimated by "peak oil" theorists.
The world consumes nearly 85 million barrels of oil per day, with the United States using about a quarter of that, according to the Department of Energy.
"Oil is too critical to the global economy to allow fear to replace careful analysis about the very real challenges with delivering liquid fuels to meet the needs of growing economies," said Peter Jackson, director of oil industry activity for Cambridge, a Massachusetts-based consultant to the oil, natural gas and electric power industries.
The said the peak in global daily oil production will not come before 2030 and will be followed not by a steep decline, but rather by an "undulating plateau" of ups and downs in output before a gradual dropoff, according to the report
MSNBC - MORE HERE
And
HERE FROM ARABNEWS
And
HEAVY OIL RESERVES
And
THE NEXT HURRAH
And
THIS FROM TIME