Not to worry, there’s plenty of oil

“Saudi Arabia, Exxon Say Oil Will Last for Decades (Update7)
Sept. 27 (Bloomberg) — Saudi Arabia’s oil minister and the president of Exxon Mobil Corp. said world petroleum reserves will last for decades, seeking to ease concern about supplies and near- record prices.

“Saudi Arabia, the world’s largest oil producer, will “soon” almost double its proven reserve base, said Oil Minister Ali al- Naimi. That will add 200 billion barrels to the current estimate of 264 billion, he said. Exxon Mobil President Rex Tillerson said the world may still have more than 3 trillion barrels from conventional oil fields, oil sands deposits and other sources.

bloomberg.com