Defend Truth

Rays of hope for global oil industry

Rays of hope for global oil industry

The New York Times has reported 2009 is on track to become the best new oil reserves year since 2000, with new finds totaling 10-billion barrels in the first six months of the year. While still far off the global annual consumption of around 31-billion barrels, and well behind the finds of the 1970’s in Alaska, Mexico and North Sea, and 1990’s in the Kaspian Sea, the successes point to the confluence of the high price of oil (enabling commercial production in Canada and Venezuela) and new research and extraction technology, making possible huge new finds in the Gulf of Mexico, could result in peak oil being still some time in future

Gallery

Please peer review 3 community comments before your comment can be posted

MavericKids vol 3

How can a child learn to read if they don't have a book?

81% of South African children aged 10 can't read for meaning. You can help by pre-ordering a copy of MavericKids.

For every copy sold we will donate a copy to Gift of The Givers for children in need of reading support.

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options