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Subject: World not running out of oil, say experts


Author:
larry
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Date Posted: 03:06:55 01/19/08 Sat

A landmark study of more than 800 oilfields by Cambridge Energy Research Associates (Cera) has concluded that rates of decline are only 4.5 per cent a year, almost half the rate previously believed, leading the consultancy to conclude that oil output will continue to rise over the next decade.

Peter Jackson, the report's author, said: “We will be able to grow supply to well over 100million barrels per day by 2017.” Current world oil output is in the region of 85million barrels a day.
http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article3207311.ece

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