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Apr 13 / Dave Schumaker

USGS: Oil Reserves May Not Be As Low As Thought

I’m sure many of you have heard various numbers thrown around everyday that quote scientists saying there may “less than 50 years of oil left,” or “we’ll run out of oil in our life time.” A new report released by the USGS says that oil reserves may not be as low as we originally thought. “The United States Geological survey conducted in 2000 predicts that only 30 per cent of global oil supplies have been used. The report also says that there are 2,029 billion barrels of oil in reserves around the globe and that is not including undiscovered oil in frontier areas.” That said, shouldn’t we still plan to switch to a new energy source before it’s too late?

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