One trillion barrels in 125 years

28-May-2008

The vice-chairman of Chevron has asserted that it took the world 125 years to consume one trillion barrels of oil, according to reports.

However, Peter Robertson predicted that it would take only 35 years to consume the same amount again.

In a speech given to the Microsoft Global Energy Forum, Mr Robertson asserted: "A global recession would have a dampening effect, but the world is still expected to use up to 50 per cent more energy by 2030."

He explained that the task facing the energy industry is to increase supply from sources that collectively already produce about seven million gallons of oil a minute.

In an effort to meet global energy demand, Mr Robertson suggested that renewable sources would become increasingly important, although he added that it would take time, resources and investment to make them commercially viable.

Earlier this month, Chevron released its 2007 Corporate Responsibility Report, which demonstrated that throughout the year the company had increased its commitment to renewable and energy sources and had lowered levels of greenhouse gas emissions.

Breaking news brought to you by the Oxford Princeton Programme, specialists in energy courses. This and other related topics are part of the forthcoming course Biofuels - A Key Renewable Energy Option in Houston on 17 - 19 September 2008.