proven oil reserves at the end of 1993 equaled 1024 billion barrels.
During the following ten years, 264 billion barrels were produced and consumed, yet proven reserves at the end of 2003 equaled 1148 billion barrels!
After 4 years of feverish demand and tremendous growth of the economies of China and India, with record breaking, almost unreal rates of petroleum CONSUMPTION, reserves of conventional petroleum sat at 1,317 billion barrels in January, 2007,
So according to the "experts", the oil reserves increased by 193 billion barrels in 14 years. During that same time period we consumed much more than 264 billion barrels of oil.
Looks to me like our best renewable energy source is . . . . . OIL.
Tuesday, June 10, 2008
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