NO PANIC. THERE IS ENOUGH OIL FOR EVERYBODY

Rasul Zhumaly

In the modern society the role of hydrocarbons has grown incredibly. Defense technologies, civil transport, power stations, equipment at plants and factories, heating systems, etc – all these are powered by oil and gas. However calculation regarding reserves of hydrocarbons on Earth are very arguable. Let’s try to give our own explanation.

Analysts are predicting further strengthening of the energy factor. “By 2030, the global oil demand will reach the figure of 121 million barrels a day compared to the current 85 million, - considers the Saudi Arabian Oil Minister Ali Al-Nuaimi. – And until the end of the current century, oil will remain the main source of energy in the world”. The problem is that the rate of oil production can hardly meet the demand. Therefore, we can observe the constantly rising quotations for energy carriers. Thus, the oil prices have jumped from the weighted average amount of 11 US dollars per barrel in 1997 to over 100 US dollars within a decade. And that is not the limit.  
So the world is concerned with the question: “Is there enough oil?” This concern is favored by the memory of the oil crisis of the 1970s when suddenly the world did not have enough oil. The prices have been raised for diesel fuel and other oil products. Plants and factories stopped operating, unemployment level was unprecedented. Strict limitations were introduced in Japan, Europe and even in the USA.
It is clear that only reliable information about oil reserves can ease the anxiety caused by