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World Oil Reserves at 'Tipping Point' http://apocadocs.com/s.pl?1269632965
The world's capacity to meet projected future oil demand is at a tipping point, according to research by the Smith School of Enterprise and the Environment at Oxford University. The age of cheap oil has now ended as demand starts to outstrip supply as we head towards the middle of the decade, says the report. It goes on to suggest that the current oil reserve estimates should be downgraded from between 1150-1350 billion barrels to between 850-900 billion barrels, based on recent research. ... The report also raises the worrying issue that additional demand for oil could be met by non-conventional methods, such as the extraction of oil from Canada's tar sands. However, these methods have a far higher carbon output than conventional drilling, and have been described as having a double impact on emissions owing to the emissions produced during extraction as well as during usage.
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[Read more stories about:
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'Doc Michael says:
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Reserves downgraded? But I thought growth could continue forever!
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