> Now the received wisdom is that we'll have a glut of supply stretching into the far future. Uh, source? We have a short term glut caused by production pickin

> Now the received wisdom is that we'll have a glut of supply stretching into the far future. Uh, source? We have a short term glut caused by production picking up, but our long term reserves haven't changed tangibly. There's about 1,324bil barrels in proven reserves (among the largest 17 reserves, ending with brazil at 13bil); global use is 95mb/d -- which is about 38 years of use. That's not 'stretching in to the far future'. (numbers from https://en.wikipedia.org/wiki/Oil_reserves#Estimated_reserves_by_country https://en.wikipedia.org/wiki/Oil_reserves#Estimated_reserve...)