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YEARS OF RESERVES AT
CURRENT ANNUAL PRODUCTION RATES*
*The number of
years it would take to use up existing reserves at current production rate.
Past experience, however, suggests that more reserves will be found. In the
1980s, the world’s proven reserves expanded by 47%, even as the
consumption continued apace. With a more rapid rate of economic growth in the
1990s, and thus with the more rapid rate of oil consumption, the world’s
reserves rose by
OIL CONSUMPTION 2001
PROVEN OIL RESERVES 2001
Source: BP Statistical Review of World Energy 2002 <www.bp.com/centres/energy2002>
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