"“It’s unlikely that oil reserves will ever be exhausted,” he said during his keynote speech at the event organised by students from London Business School’s Energy Club. “[Therefore] the price of oil won’t rise, because supply isn’t going to dwindle.”E ainda, "Oil Supply Reaches High Water Mark":
Dale added that the US alone is producing 4.5 million barrels of shale oil per day, which is 1.6 million more than in 2014. A boost in supply has contributed to the plummeting price of oil from US$115 last year to around $50 a barrel."
"In fact, the world has so much oil that abundance is actually becoming a logistical problem: We’re not sure where to stash all the crude sloshing around the global market. Most onshore storage sites are full-up at this point, so producers have taken to offloading their cargo onto tankers and anchoring the ships off the coasts of major oil ports. Houston, for example, had some 41 tankers idling outside its port last week."Remember "peak oil"