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MYTH #3 - No New Discoveries of Oil Reserves. The Department of Energy itself estimates that world reserves stand at some 7.6 trillion barrels. To put this into perspective, since 1971 the world consumed just 767 billion barrels! This estimate includes (quite apart from the huge tar sands deposits in Alberta and Venezuela) the recent finds off the coast of West Africa, the Gulf of Mexico, the South China Seas and the Falkland Islands. These taken alone equal half world consumption to date.
Oil crisis? The only crisis I can see, the world is drowning in the stuff! We have enough for the next 400 years! How many people do you know failed to get their tanks filled due to shortages?