Oil reserves in the news: new discovery and a question of inflated numbers
The more critical view comes from Sir David King, Britain's former chief scientist, who says that the official estimates of how many barrels of oil remain in the earth are "inflated because member countries of the oil cartel, OPEC, over-reported reserves in the 1980s when competing for global market share," as the SMH puts it. Instead of somewhere between 1,150 and 1,350 billion barrels, Kind thinks there are more like 850 to 900 billion barrels.
When it comes to energy insecurity questions like this, we can't help but think that plug-in vehicles offer a smart and stable alternative. Pull politics and the environment back into the picture, and you've got to wonder why anyone keeps pushing for more liquid fuels. Oh, right, oil pay.
[Source: Sydney Morning Herald, Shell via Green Car Congress | Image: Stig Nygaard - C.C. License 2.0]
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