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2040 projections-II: Abundant hydrocarbon reserves but $ 450 billion E&P investments needed every year
Dec 19:   Another point that the Exxon Mobil report says is that Global oil resources are abundant
8Less than one-quarter of global oil resources have been produced
8Remaining oil resources can provide 150 years of supply at current demand
8Oil resource estimates keep rising as technology advances
8Upward of $450 billion a year of upstream oil investment is needed to meet demand and without further investment, liquids supply would decline steeply
8Over 80 percent of new liquids supply needed to offset natural decline
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