4 Articles
When the sand runs out of oil, do politicians' heads go there?

Here's how you make friends and influence people: say that politicians and industry experts have their "heads in the sand" when it comes to understanding how much oil is left in the world. That's what Britain's former chief scientist, Sir David King, said recently, adding that people with a "vested interest" in overstating how much easy-to-access crude is left in the ground do so, and that

Oil reserves in the news: new discovery and a question of inflated numbers

Let's set aside the political and environmental reasons for getting off oil to make a statement that focuses just on the ability to predict the price of gasoline: if we knew how much black gold was left in the ground, things sure would be a lot easier. This point is emphasized by two recent articles, one from the Sydney Morning Herald that says that we have a lot less oil reserves undergr

Former Saudi Aramco executive says oil reserves claims wrong

All sorts of people have been weighing in on the price-of-oil situation lately. Could the current price be a bubble waiting to burst or is it reflective of flat production levels mixed with the rising demand from India and China? If former Saudi Aramco executive, Sadad Al-Husseini, is righ

ExxonMobil $pending ten$ of billion$ to locate more oil

While the amount of energy the world demands every year is tremendous, the cost of finding and purchasing that energy is just as staggering. According to this article, ExxonMobil plans to spend between $25 and $35 billion every year for the foreseeable future in search of more oil. Even as established oil reserves dry up, the company is finding m