BP: World oil, gas reserves growing at healthy pace

06/28/2004
BP PLC tried recently to quell renewed concerns by some industry observers that world oil reserves are running out sooner than expected."[Last year] was a turbulent year in the world's energy markets, with supply disruptions, strong growth in both demand and production of oil and coal, and the highest prices in the oil and [natural] gas markets for 20 years," said BP Chief Economist Peter Davies. However, he said, "The high prices were not driven by fundamental resource shortages; in 2003 the world's reserves of oil and natural gas continued their long-term trend of growing faster than production."Davies's comments were part of presentations June 15 in New York City and June 1...
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