D1. Oil Discovery (3 year average - past and projected) 1930-2050

This chart shows how oil discoveries have been dropping since the 1960s. New major discoveries only last for a few years - the trend line continues. The orange line indicates annual consumption. To avoid the problems of peak oil, we would not only have to slow the discovery curve but reverse it so that annual discoveries moved above the consumption line (or the line fell). Neither option seems likely.

Source: ASPO