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Globally - every year we currently consume the equivalent of over 11 billion tonnes of oil in fossil fuels. Crude oil reserves are vanishing at the rate of 4 billion tonnes a year1 â if we carry on at this rate without any increase for our growing population or aspirations, our known oil deposits will be gone by 2052. Weâll still have gas left, and coal too.
The estimates for the recoverable oil and natural gas reserves for the fields come from Mann, Caghagan and Gordon2003, âTectonic Setting of the Worldâs Giant Oil and Gas Fieldsâ in AAPG Memoir 78. RIGHT: Ultimate recoverable conventional oil and natural gas reserves for selected supergiant fields in the Middle East.