Discoveries of conventional oil, in billions of barrels, 1947-2016. Graphic: Bloomberg

By Ron Patterson
17 December 2016

(Peak Oil Barrel) – Jean Laherrere has posted the following charts and comments on Bakken and World oil reserves. […]

Everybody knows that world oil discoveries are well below oil production since a long time ago and that remaining reserves should be decreasing.

Proved reserves increase by adding tar sands and extra-heavy reserves (Canada and Venezuela) in the 2000s, when they were in production since 1967 and 1979.

Oil Discoveries Lowest Since 1947

Jean Laherrere on Proven Reserves

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