BP's optimistic outlook on oil supply, which repudiates the idea the world may be running short...

|About: BP p.l.c. (BP)|By:, SA News Editor
BP's optimistic outlook on oil supply, which repudiates the idea the world may be running short of recoverable resources, doesn’t wash with everyone. One counter-argument is that the increased cost of recovering energy will mean the future will be shaped by scarcity, not abundance. FT, in an otherwise favorable view of U.S. shale, notes that overoptimism is common in new oil discoveries.