The world is not running out of oil

According to Mark Finley, a BP economist, the world has plenty of oil left.  Mr Finley walked the group of about 20 through BP’s annual Statistical Review of World Energy ,  released in June.

Motorists might complain about high gas prices but Mr Finley commented that it’s an indication of a good performing oil market, not a crisis.

He remarked that there are enough reserves to pump oil for the next 4 decades at current production speeds, providing there are no new oil discoveries.  Reserves have increased for 15 consecutive years. 

BP is renowned as the leading gas producer in Southwest Colorado.  The statistical review began 56 years ago and the information is a respected source for energy companies.