Friday, March 03, 2006

ExxonMobil: Peak oil? We don't believe in no stinkin' peak oil!

ExxonMobil: Peak oil? [pdf]


Oil is a finite resource, but because it is so incredibly large, a peak will not occur this year, next year, or for decades to come. According to the U.S. Geological Survey, the Earth was endowed with over 3.3 trillion barrels of conventional recoverable oil. Conservative estimates of heavy oil and shale oil push the total resource well over four trillion barrels. To put these amounts in perspective, consider this: Since the dawn of human history, we have used a total of about one trillion barrels of oil.


With abundant oil resources still available -- and industry, governments and consumers doing their share -- peak production is nowhere in sight.