Quote:
Originally Posted by Mihajlovic
Geologists say the discoveries challenge one of the notions of the peak oil theory, which claims oil companies already have found nearly all of the world's usable oil.
http://www.businessweek.com/bwdaily/...eek+exclusives
I remember reading something about it, how we're gonna run out of oil in a few years. What a load of crap that was.
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We haven't reached the date of even the most pessimistic prediction for a peak date that I've read. Importantly, the peak date is not the point where oil runs out completely, but where it starts to diminish, causing prices to escalate. It's unlikely that reserves will ever completely run out, for economic reasons.