Listening to Radio 4 this morning, someone (during the business section) was being interviewed about the current high price of oil. I assume that the interviewee was a representative of an oil company. When queried about the finite state of the resource said that there is an "abundance" of oil and then went on to explain that there still exists a lot of untapped reserves before having to tap sand oils and other very heavy oils. To put in perspective, they estimate that there a 7 trillion tonnes of untapped oil and that in total so far we have used less than 1 trillion tonnes (it was tonnes not barrels!) - he inferred that this was good news and that we should all relax.
HOW CAN THIS BE GOOD NEWS?
Every barrel of oil burnt is an incredble burden to the planet's environment. If you look at what we are doing to the environment on a geological timecale instead of a human timescale then it is clear we are simply exploding all the oil we find as quickly as we can.
Availability of more oil just moves us into lazy mode - it's easier for us to think of ways to find more oil than develop alternatives.
Bring on the hydrogen economy.... QUICK