Wednesday, September 30, 2009

The 1.258 trillion-barrel question How much oil lies in reserve?

Union-Tribune Staff Writer

The Earth contains a finite amount of oil. Burned to power our vehicles, heat our homes and light our cities, this fuel is a nonrenewable resource. So when Peter Maass, author of “Crude World: The Violent Twilight of Oil,” asked experts how much oil remains, it was not an innocuous question. The answer could spur or doom research into alternative energy sources, even sustain or overthrow governments.

Oil barons around the world, though, confidently reassured Maass. As of this year, they insist, the world's reserves of crude amount to 1.258 trillion barrels.

How do they know?...............

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