BP CEO Robert Dudley said booming oil-and-gas production from sources including onshore shale formations and deepwater regions has defeated arguments that global oil production will soon peak and go into an irreversible decline.
Dudley, in a speech, noted projections of overall global demand energy growing by over a third by 2030, including the need for around 16 million more barrels per day at that time.
But he said that the ability produce from oil-and-gas reservoirs that were once out-of-reach will enable supply to keep up. ...
He said that at current consumption rates, data suggests that the world has 54 years’ worth of proven oil reserves and 64 years worth of proven gas reserves, adding, “more will be found.”
In 54 years I'll be 104 years old and probably still driving a 2052 model Mustang convertible.