World Oil Supply: Peak or Not Peak?

The opacity of global oil supply data and just how much oil can be counted as Proven (90-95% probability of recovery), Probable (50%) or Possible Reserves (5-10%) has heightened uncertainty and added impetus to the arguments of Peak Oil theorists and proponents.



Taken together with the sharp and sustained oil price rise, rapid industrial growth in places like China, India and other large developing countries, the rapid rise to political prominence of climate change mitigation and greenhouse gas emissions reduction efforts and associated incentives and incentives to promote alternative, renewable energy sources this has raised the uncertainty of demand for oil – and hence investment conditions