Too sad. There are some 3.74 trillion barrels of oil left. Enough to fuel the world for another 122 years. So the market and dininishing supply won’t take care of our greenhouse problem, so political action in order to reduce carbon dioxide emissions are more urgent than ever before.

“Cambridge Energy Research Associates said in a report that the world has some 3.74 trillion barrels of oil left — enough to last 122 years at current consumption rates and triple the amount estimated by ‘peak oil’ theorists…

Mises Economics Blog: Surprise, Surprise, Surprise: The Great “Peak Oil” Theory Is Just Not All That It Is Cracked Up To Be

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