"RobertL" wrote in message
...
On May 24, 11:43 am, "nightjar" cpb@insert my surname here.me.uk
wrote:


....

given that the rate of discovery has consistently
increased faster than the rate of increase in use.

But it hasn't. the rate of discovery has FALLEN steadily over the
last 50 years and rate of consumption has increased.

If you take only the discovery of entirely new fields, that is correct. If
you count all new discoveries, including the extension of existing fields,
oil reserves have been consistently growing faster than the rate of increase
of consumption. Oddly enough, it is easier to find oil where you already
know it exists than in entirely new areas.

Colin Bignell