The search for oil

Demand for oil is driving exploration in ever more unlikely frontiers. Are the benefits worth the risks?

The world's oil consumption is on the rise with China alone using four times what it did in 1985.
(Image credit: Corbis)

How much oil is left?

No one knows for sure. Global reserves are estimated at 1.2 trillion barrels—enough to last for many decades at current levels of consumption. But some geologists believe there might be twice that much, if we’re aggressive in prying the remaining oil out of the Earth. At the same time, consumption is rising: The world used 84 million barrels daily in 2009, up from 60 million in 1985. China alone consumes four times what it did in 1985. As industrialization accelerates, oil consumption is expected to grow another 36 percent by 2035. Consequently, the search for oil is expanding.

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