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One more thing the President is wrong about.
The stone age didn't come to an end because we ran out of stones. The oil age will not come to an end because we run out of oil. Technology will move beyond oil, and it's got plenty of time to do that.
Another in a list of predicted apocalyptic endings that will never happen: No population bomb, no global famine, no global warming, and no peak oil.
But there's always the Sweet Meteor of Death.
The Rystad Energy consultancy has just released its new calculations of global oil reserves and estimates that the U.S. may harbor as much 264 billion barrels of oil compared to Saudi Arabia's 212 billion barrels. Overall, world oil reserves exceed 2 trillion barrels. At current production rates, this is enough oil to supply the world for 70 years.
The Rystad analysts compare their estimates with those of the closely watched annual BP Statistical Review that conservatively calculates that the U.S. has 55 billion barrels of proved reserves and that world reserves stand at just under 1.7 trillion barrels.
The stone age didn't come to an end because we ran out of stones. The oil age will not come to an end because we run out of oil. Technology will move beyond oil, and it's got plenty of time to do that.
Another in a list of predicted apocalyptic endings that will never happen: No population bomb, no global famine, no global warming, and no peak oil.
But there's always the Sweet Meteor of Death.