This is clearly a reversion to old-style Soviet propaganda.

After all, peak oil production has passed, has it not, so there cannot possibly be all these "reserves".

If this is true you have to wonder if Mother Nature has set a comprehension test for the human race. The arctic ice is melting due to excessive burning of fossil fuels so we're exploiting the lack of ice to find more fossil fuels. Of course the reserves may not be so great and they may take a decade or more to develop. If the oil resource is major and easily developed it could make the ice loss permanent. I understand that will bring crucial changes to weather patterns and rainfall in Europe. Let's face it we're addicted to happy motoring consequences be damned.

"Let's face it we're addicted to happy motoring consequences be damned."

(Says Taswegian, who walks everywhere - or rides his horse.) Better pack another hairshirt Taswegian - for all those disappearing species of ice vole.

What? The sea ice in the arctic is receding? Someone had better tell Anthony Watts. According to him, that's BS.

What good news though eh? The future promises to be warmer world full of fertiliser with energy supplies dominated by Russia. Woohooo!

Peter H thanks for the Dorothy Dixer. As it happens I drive my car mainly on modified vegetable oil. I also cook on a wood stove and use solar electricity. However it's clear to me that these options are not practical for most people.

Peak oil is looking like another lie to keep prices high.AGW caused by CO2 looks like being the other.

I read some months ago that Russia is vying Saudi Arabia for oil reserves.When they can initiate and control nuclear fusion,ie energy like the Sun,the elites won't have the energy tool to subjuate us.