Proven world oil reserves stand at 1 trillion barrels of oil according to
this and
this. There is disagreement on how long this will last(estimates vary from 30-60 years). Most estimates do not take into account the rising rate of oil consumption; china's oil consumption rose by 20% last year. However, in the light of undiscovered resources which could be as high as 3 times the current reserves, the so called energy crisis looses its credibility.
Long Term World Oil Supply Scenarios gives the really low down on the subject.
Consider the worlds coal reserves that will last us a good
200 hundred years, and one is tempted to ask, energy crisis? what energy crisis?
No wonder the alternate energy tack is taking it's sweet time, given that neccesity is the mother of invention. < pause >
Other thoughts on environmentalism (is that a word?) being a fad and the oil dependent world economy are whirling round my head, but using that cliche just killed the mother of invention to blog it.
