At current rates of consumption, proven crude oil reserves will last an estimated 43 years (1996). If the additional supply from oil shale/oil sands is included, the supply will last for more than 100 years.
However, the following factors will probably help ensure an oil supply well beyond that point: better utilization of known
deposits which at present are exploited only to about 30% with conventional technology, intensified exploration activity, recovery of difficult-to-obtain reserves, the opening up of oil fields under the seabed as well as a restructuring of energy and raw material consumption.
At current rates of consumption, proven crude oil reserves will last an estimated 43 years (1996). If the additional supply from oil shale/oil sands is included, the supply will last for more than 100 years. However, the following factors will probably help ensure an oil supply well beyond that point: better utilization of knowndeposits which at present are exploited only to about 30% with conventional technology, intensified exploration activity, recovery of difficult-to-obtain reserves, the opening up of oil fields under the seabed as well as a restructuring of energy and raw material consumption.
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