Page added on June 27, 2006
For quite some time Kuwait’s official oil reserves have remained static, hovering around an agreed figure of 94 to 99 billion barrels of proven oil, although some sources put it as high as 101.5 billion. However, in a series of controversies revolving around the oil industry and its global implications, it has been revealed through certain individuals that the official figure is a mockery, since what has actually been accounted for is way below the official figures.
In what seems to be a phenomenon that not only affects Kuwait but the entire oil industry, people are starting to wonder how much longer can we sustain oil, especially as demand from emerging countries is constantly increasing. Oil is a limited resource and its depletion date seems to approaching rather fast.
To work out for how many years we will be able to sustain our current economic system I took the official numbers and actual production levels.
Kuwait Times
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