Dwayne Johnson...eat your heart out., page-301

70% of the oil we use today comes from fields discovered before 1970. In other words, the last 50 years of oil exploration, with the massive technological developments in computer modelling, seismic acquisition and processing, drilling, and our understanding of geological science, has only been enough to provide us with 30% of our supply. In 1970, Plate Tectonics had only just been discovered, seismic was little more than a collection of squiggles cut and pasted together, and most wells were drilled from surface mapping (by hand) of anticlines. They found all the easy oil and we've been "running just to keep in place" since.

These days, a billion barrel oil field strike is big news and there are only a few of them a year. A billion barrels is what the world consumes every TEN DAYS. And only about half of that goes on transport - even if we went to 100% electric vehicles tomorrow, we'd still need oil for petrochemical industries and much else.

Oil demand is forecast to rise until 2035, and to taper off gradually thereafter as electric vehicles lessen the demand from the transport industry. By then, the world will be using around 110 million barrels a day, which means the entire 2C liquids resource of Dorado would supply the world for less than two days.

There is no risk to Dorado from lack of oil demand. On the contrary, we need it desperately, particularly if we want to avoid destructive and inefficient alternatives like tar sands.