[thackney]

The world has been burning more oil than it finds every year since 1981

Not true.

Proved reserves:
1981 - 649.130 Billion Barrels
1986 - 698.607 Billion Barrels
1991 - 998.745 Billion Barrels
1996 - 1,007.368 Billion Barrels
2001 - 1,028.132 Billion Barrels
2006 - 1,292.936 Billion Barrels
2009 - 1,342.207 Billion Barrels

International Crude Oil Proved Reserves
http://tonto.eia.doe.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5&pid=57&aid=6&cid=ww,&syid=1980&eyid=2009&unit=BB

The remaining reserves continue to climb because we find more than we use.

[okie01]

The remaining reserves continue to climb because we find more than we use.

Reserves increase because a.) we find more than we're using and b.) technological improvements steadily increase the amount of recoverable oil in a given reservoir.

Technology is an important part of this equation. I can recall two times in the past when the cry was "We're running out of oil". Then, somebody invented the pumpjack. The next time, somebody introduced injection.

Now, we've got sophisticated directional drilling technology. There will be more...

[okie01]

The remaining reserves continue to climb because we find more than we use.

Reserves increase because a.) we find more than we're using and b.) technological improvements steadily increase the amount of recoverable oil in a given reservoir.

Technology is an important part of this equation. I can recall two times in the past when the cry was "We're running out of oil". Then, somebody invented the pumpjack. The next time, somebody introduced injection.

Now, we've got sophisticated directional drilling technology. And there will be more...