Total Global Recoverable Oil Reserves Are Falling At An Alarming Rate (analysis, economic)

[Taggerung]

Can you say peak oil?

https://oilprice.com/Energy/Crude-Oi...ming-Rate.html

According to Rystad Energy analysis, global recoverable oil now totals an estimated 1,572 billion barrels.
Global recoverable oil reserves fell by 152 billion barrels compared to 2021.
The drop in reserves is driven by the 30 billion barrels of oil produced last year, plus a significant reduction in undiscovered resources.

And... they should because the 1,500+ billion barrels of reserves are likely overstated by DOUBLE... LOL.

There's a large amount of HOPIUM, GARBAGE, & DELUSION when it comes to "recoverable reserves" that shouldn't be counted on.

The world has already reached peak oil production, and the world will really start to feel the squeeze in the next couple of years. Less oil=economic contraction, there's just no way to avoid it.

[TaoistDude]

So? The world is trying to move away from fossil fuels due to climate impacts, so the recoverable reserves should last us a long time as consumption declines and alternatives/renewables increase.

[Sunbiz1]

May I ask then, why oil is trading down?; way down.

[TimtheGuy]

Originally Posted by Taggerung

Can you say peak oil?

https://oilprice.com/Energy/Crude-Oi...ming-Rate.html


And... they should because the 1,500+ billion barrels of reserves are likely overstated by DOUBLE... LOL.

There's a large amount of HOPIUM, GARBAGE, & DELUSION when it comes to "recoverable reserves" that shouldn't be counted on.

The world has already reached peak oil production, and the world will really start to feel the squeeze in the next couple of years. Less oil=economic contraction, there's just no way to avoid it.

Let’s be clear here….YOU HAVE NO IDEA IF WE HAVE REACHED PEAK OIL.