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How much oil is really there? Making correct statistics bring reality to global planning
Author(s) -
Pike Richard
Publication year - 2008
Publication title -
significance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.123
H-Index - 21
eISSN - 1740-9713
pISSN - 1740-9705
DOI - 10.1111/j.1740-9713.2008.00318.x
Subject(s) - investment (military) , natural resource economics , economics , business , operations research , political science , engineering , law , politics
The oil and gas industry annually reports global proven reserves, which investment, energy and environmental analysts incorporate into future strategies. But a major statistical error has been made, reports Richard Pike . True “proven reserves” may be twice the commonly accepted figure. It is essential that this is addressed to avert climate catastrophe by the middle of the century and to compel us to a sustainable low carbon economy.