Actually, considering that 50-70% of all the world's oil ever discovered is still sitting in the ground, we have lots of reserves, in theory. But, since extraction technology craps out after about a third or less has been withdrawn, we need totally new technologies to just extract what we already know is there.
Even if this new report is right about the 200 billion barrels, we only know how to extract, what, 50-60 billion barrels of it (at best)?
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My Father's ship, HMCS Waskesiu (K330),
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