Source: Ludwig von Mises Institute
by George S Giles
“Just how much oil does the world have? The American Petroleum Institute (API) is considered the world leader in petroleum statistics and they set the standards the worldwide industry uses. Those good old boys from Texas have created the incredible technology that brings high quality gasoline to your neighborhood each and every day. … The proven reserves of petroleum now stands at 1.7 trillion barrels of oil, up significantly from 1.3 trillion barrels in 2009. During this 17-year interlude, some 100 million barrels per day have been consumed by the world. This is clearly a paradox for the Hubbert Peak Oil believers.” (02/13/26)
https://mises.org/power-market/proven-petroleum-reserves-and-myth-peak-oil