America @ $100/Barrel: How Long Will the Oil Last?

http://www.popularmechanics.com/science/earth/4254875.html?series=19

America @ $100/Barrel: How Long Will the Oil Last?

Only 120 of the world's 4000 active oil and natural gas fields satisfy a remarkable 40 percent of total global consumption. Based on data compiled by geoscientists at the University of Texas, this map pinpoints 932 giant fields—those with estimated reserves of at least 500 million barrels of ultimately recoverable oil or gas equivalent. Although discoveries of these megafields peaked in the 1970s, drillers using new technologies have located 69 new giants since 1999 and anticipate finding up to 33 more before the end of the decade. Below are the biggest hits of the past eight years, including major discoveries within our own borders that could help reduce imports of foreign oil. — Davin Coburn


By Brad Reagan
Published in the April 2008 issue.

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