For obvious reasons, the question of when oil reserves will begin to dwindle is of obsessive interest to governments (especially those such as Saudi Arabia which are the main oil producers), economists, oil companies and the general public. This latest report by IHS Cambridge Energy Research Associates leans to the more optimisitic end of the opinion spectrum, predicting the "oil peak" will not be reached until 2030 and that, for the two decades after that, reserves will undulate, falling and then rising as discoveries of new oil fields and rates of consumption oscillate, until around 2050.
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