The world is not going to run out of oil. There is plenty of it. In fact, there is likely way more oil than we need, and much of it will have to remain in the ground. That means that the oil industry is in danger of vastly overspending to dig it all up. A new report from Carbon Tracker looks at the common argument that high natural decline rates at oil fields necessitate high levels of spending on finding and developing new oil reserves. The report says that natural decline rates are often overstated or used in misleading ways. The most vital industry information will soon be right at your fingertips Join the world’s largest community dedicated entirely to energy professionals and enthusiasts For instance, many analysts and even oil companies themselves argue that enormous volumes of new reserves are needed to offset declining fields, and because of […]