BP: World Reserves of Fossil Fuels
View ArchiveAccording to the 2015 BP Statistical Review of World Energy, global total reserve levels, by fossil fuel, are now: 892 billion tonnes of coal, 186 trillion cubic meters of natural gas, and 1,688 billion barrels of crude oil. While these numbers may seem large at a glance, at today's level of extraction BP's estimated proved reserves of coal would be exhausted in 113 years, the last cubic meter of natural gas in 2069, and the entirety of crude oil reserves by 2067. BP dutifully acknowledges the abundance of factors that could easily alter these projections, but that does not alter the global policy imperitive to support sustainable fossil fuel extraction and development. All we need now is to define "sustainable" against ever changing market, political, and social conditions.
Sources: Crude Oil Reservs, Natural Gas Reservs, Coal Reservs, Crude oil prices, Natural Gas prices, Coal prices, Historical Energy Statistics.
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