e115.
For concise summaries of the world outlook see, for instance, UK Industry Taskforce on Peak Oil and Energy Security, “The Oil Crunch: A Wake-Up Call for the UK Economy”, February 2010; David Strahan (2007), The Last Oil Shock, and updates in Rembrandt Koppelaar’s “Oilwatch Monthly” at The Oil Drum: Europe: http://europe.theoildrum.com/ .
Editor’s note: David Fleming’s former colleague Roger W. Bentley offers the following clarification:
The reference to “discovering one barrel of oil for every five consumed” refers to the discovery in new fields of “regular conventional oil”, as defined by Colin J. Campbell. This definition excludes the discovery of deepwater oil, Arctic oil or very heavy oils. However, with regard to the first two categories, the quantity of oil available for discovery is relatively small (see, e.g., International Energy Agency, “Resources to Reserves 2013”, 2013, available at www.iea.org/publications/freepublications/publication/Resources2013.pdf ). And the location of most very heavy oils, and of the non-conventional oils, is already known.