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> increasingly scarce Is it increasingly scarce? Proven know oil reserves have been stable since ~2012 and are now about 50% higher than they were back in 1990
by qwytw 3y ago
> increasingly scarce
Is it increasingly scarce? Proven know oil reserves have been stable since ~2012 and are now about 50% higher than they were back in 1990.
Of course the extraction cost has been going up as well since shale is not economical below a certain market price.
- ricardo81 3y agoThe average amount of energy to extract new reserves has steadily increased. I think ATM it's around 1/8th of oil/energy extracted is needed to extract said oil. So even if it's not scarce, the factor of how economical it is to grab it is a factor. Sorry, no source, but I'd read it recently.