Steve GannExxon Reaches Peak Oil...Reserves
February 17th 2010 16:28
Maybe we are not in as off as many peak oil activists have stated recently. Not only is Exxon keeping up with consumer demand, the oil giant has been able to put aside reserve amounts for the 16th staight year. 2009 was their best year ever for exploration with an 133% increase in production.
The company estimates that they have 23.3 billion barrels of oil set aside for future use as well as new energy research.
I'm of the belief that the Earth is an "oil making machine" and as long as we continue to search for better ways to conserve as well as explore uses for faster renewable resources, we should be fine for centuries to come. Google abiotic oil theories and read Thomas Gold's book "Deep Hot Biosphere" for more information.
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