The world is no longer at risk of running out of oil or gas, with existing technology capable of unlocking so much that global reserves would almost double by 2050 despite booming consumption, BP has said.
When taking into account all accessible forms of energy, including nuclear, wind and solar, there are enough resources to meet 20 times what the world will need over that period, David Eyton, BP Group head of technology said.
"Energy resources are plentiful. Concerns over running out of oil and gas have disappeared," Mr Eyton said at the launch of BP's inaugural Technology Outlook.
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"Energy resources are plentiful. Concerns over running out of oil and gas have disappeared," Mr Eyton said at the launch of BP's inaugural Technology Outlook.
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6 comments:
There were never real concerns of running out. But the false alarms pushed the market.
Well then, I guess prices should continue to be falling
We knew this about 50 years ago.
BP should know they are pumping Saddam's oil like Banshees in Iraq ..who is protecting them while they do?
Of course it isn't. Why would BP lie about this?
I am 56 and have been told that the world will run out of oil in ten years. I've been hearing this for 40 years at least.
There are more proven oil fields right now that haven't been pumped than those that have.
We are not running out of oil, we are finding more and more!
So all you wienies out there that want electric cars and hybrids, go ahead. I'll take my big gas powered luxury car every day!
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