The upward revision is mistakenly attributed to advances in technology when it is simply in the reporting. Technology holds production as high as possible for as long as possible, which increases profit, but has little impact on the reserves themselves. A field contains what it contains because it was filled in the geological past. BP wins the prize for the most oblique reference to the depletion of oil, its principal asset, when it changes its logo to a sunflower and says that BP stands for Beyond Petroleum. Th world faces an oil crisis.
Oil production is at peak.
We depend on it for transport and agriculture. World trade depends on transport. We are not running out of oil, but we are facing the natural peak of the fuel that has driven our economy and prosperity for most of the last Century. The first step is to satisfy ourselves as to the facts, and then face them head on. The second step is to use intelligently the oil supply we still have.