Oil barrels dripping dry

Oil reserves are set to run dry faster than thought, a group of scientists has claimed.

The Independent covers this story today, which if true could signal a call for much faster action on alternative energies.

This puts pressure on companies such as BP and Shell, whose business models for the future rely on supplies lasting another 30 to 40 years.

I wonder what kind of things are being said around the board tables at those companies today…

Scientists have criticized a major review of the world’s remaining oil reserves, warning the end of oil is coming sooner than governments and oil companies are prepared to admit.

BP’s Statistical Review of World Energy, published yesterday, appears to show the world still has enough “proven” reserves to provide 40 years of consumption at present-day rates.