The Rising Influence of Rising Affluence

[Timothy Smith]

Can't say I agree with Dale's comments but too interesting not to share.

"Concerns about the climate change impact of burning the world's remaining oil resources mean the reserves will never be fully exploited, and the relative price of oil would not necessarily increase over time, BP Chief Economist Spencer Dale says, as reported by Reuters.

Dale cites research finding that if all fossil fuel reserves were burned, it would generate 2.8T metric tons of carbon dioxide, which would be 3x the emissions compatible with a 2C degree limit on temperature rise.

BP is among a number of oil majors due to finalize plans this Friday to contribute towards a global deal on climate change."

Climate concerns mean oil reserves will never be used up, BP economist says
http://www.seekingalpha.com/news/2825646