World Oil Demand To Peak Before Supply

A rally in oil prices, which hit a record high above $100 a barrel earlier this month, is leading to growing interest in peak oil -- the view that supply has reached, or will soon reach, a high point and then fall. London-based BP, the world's third-largest fully publicly traded oil company by market value, dismisses the view that there is a problem with the amount of oil left in the ground. Statistics complied by BP show the world has proven oil reserves of 1.2 trillion barrels, enough to sustain current output for 40 years. http://www.reuters.com/article/environmentNews/idUSL171957220080117

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