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Saudi Arabia's oil minister and the president of Exxon Mobil Corp. said world petroleum reserves are enough to last for decades, seeking to ease concern that supplies are peaking and prices will stay near records.
Saudi Arabia, the world's largest oil producer, will ``soon'' almost double its proven reserve base, adding 200 billion barrels to the current estimate of 264 billion, said the nation's oil minister, Ali al-Naimi. 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.
I am amazed that people actually believe anyone knows what the real reserves are. The Sauds use reserves as a price point. I have no idea why environmentalists and the "peak oil" intellectually challenged proponents, don't understand this.
Originally posted by sardion2000
Insulting people isn't a way to get your point across it's just a way to get ignored.