Guardian: When forecasts of fossil fuel reserves improve, how should we respond? A new report (pdf) by the trade body Oil & Gas UK says that 11bn barrels of oil and gas could now be extracted from the UK continental shelf. This would mean a rough doubling of current reserves, but it depends on high energy prices and much greater investments than companies have so far been prepared to make to turn possible or probable reserves into real ones. If the extra reserves materialised, the body says, the …