>True. But are we to dismiss the recent statement by one of the oil
>majors, in response to talk about diminishing oil supplies, that the
>reserves are good for another 40-50 years?
>
>More importantly, if there's a perception in policy circles that we
>are or have hit peak oil -- although that recent publication from
>Princeton UP seemed credible -- wouldn't this have a major influence
>on policy and action?
It might. But there's been talk of running out of oil since the first wells were drilled.
You may be referring to the BP annual energy review, which reports 41 years of oil remain at current levels of use. It's been about that level for years now.
Doug