Peak Oil? New study shows reserves could double by 2050 - Hopefully will lower price of oil and solar, etc. will be globally competitive

11/06/2015 - 15:20

Tereza Pultarova


Advances in oil and gas exploration technology have ensured the world is no longer at risk of running out of resources, BP said on Monday. Thanks to investment into supercomputers, robotics and the use of chemicals to extract the maximum from available reservoirs, the accessible oil and gas reserves will almost double by 2050.

Together with the development of renewable resources and nuclear power, the world will thus have more than 20 times the amount of energy it needs to cover its consumption despite growing demand.

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