Over the past century, the world burned through a trillion barrels of oil. Another 1.2 trillion barrels of known conventional oil reserves wait to tapped, according to BP, one of the world’s biggest oil companies. It sounds like a lot. But given the current rate of growth in demand, a trillion of those barrels will be used up in less than 30 years.
What then? Many analysts estimate another trillion barrels of yet-to-be-found oil remains, but in remote places like the Arctic Ocean where it will be expensive to extract, or in countries that might restrict access.
Over the past century, the world burned through a trillion barrels of oil. Another 1.2 trillion barrels of known conventional oil reserves wait to tapped, according to BP, one of the world’s biggest oil companies. It sounds like a lot. But given the current rate of growth in demand, a trillion of those barrels will be used up in less than 30 years.
What then? Many analysts estimate another trillion barrels of yet-to-be-found oil remains, but in remote places like the Arctic Ocean where it will be expensive to extract, or in countries that might restrict access.
source:http://www.nytimes.com/2008/04/20/weekinreview/20mouawad.html?pagewanted=all&_r=0