…as our world’s appetite for fossil fuels grows, the questions of whether there are enough petroleum oil reserves to satisfy demand, and what the consequences of its extraction will be, have never been more pertinent.
World Atlas January 2019
Proven oil reserves are those that have a reasonable certainty of being recoverable under existing economic and political conditions, with existing technology.
Many oil-producing nations provide unaudited claims for their oil reserves.
The volatility in oil prices over the past decade has created plenty of concern for business people, national governments, and global policymakers alike. With such uncertainty in pricing, coupled with environmental concerns as our world’s appetite for fossil fuels grows, the questions of whether there are enough petroleum oil reserves to satisfy demand, and what the consequences of its extraction will be, have never been more pertinent. In order to shed more light into a somewhat ambiguous subject…
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