Knoema.com - BP: World Reserves of Fossil Fuels http://knoema.com 0001-01-01T00:00:00Z /favicon.png Changes for BP: World Reserves of Fossil Fuels BP: World Reserves of Fossil Fuels //knoema.com/smsfgud/bp-world-reserves-of-fossil-fuels 0001-01-01T00:00:00Z Misha Gusev http://knoema.com/user/1000560
BP: World Reserves of Fossil Fuels

According to the latest BP Statistical Review of World Energy, total global reserves, by fossil fuel, are now:  Coal - 1,139 billion tonnes Natural Gas - 187 trillion cubic meters Crude Oil - 1,707 billion barrels While these volumes may seem large at a glance, at today's level of extraction and production rates, BP's estimated proved reserves*, by fossil fuel, would be exhausted as follows: Coal - year 2169 Natural Gas - year 2068 Crude Oil - year 2066 BP dutifully acknowledges the abundance of factors that could easily alter these projections, but these factors do 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.  *  Estimated years of extraction-remaining are estimated as the ratio of proved reserves to production per year. Sources: Crude Oil Reservs, Natural Gas Reservs, Coal Reservs, Crude oil prices, Natural Gas prices, Coal prices, Historical Energy Statistics.

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