We're Not Running Out Of Oil -- IBD -- November 5, 2015

"Earth Is An Oil-Producing Machine — We're Not Running Out" -- Investor's Business Daily. 

Ever since M. King Hubbert in the 1950s convinced a lot of people with his "peak oil" theory that production would collapse and we'd eventually exhaust our crude supplies, the clock has been running. And running. And it will continue to run for some time, as technology and new discoveries show that there's still an ocean of oil under our feet.

Engineering and Technology Magazine reported this week that BP — the company that once wanted to be known as "Beyond Petroleum" rather than "British Petroleum" — is saying "the world is no longer at risk of running out of resources."

Things are so good, in fact, that Engineering and Technology says "with the use of the innovative technologies, available fossil fuel resources could increase from the current 2.9 trillion barrels of oil equivalent to 4.8 trillion by 2050, which is almost twice as much as the projected global demand."

That number could even reach 7.5 trillion barrels if technology and exploration techniques advance even faster.