ConocoPhillips chairman says world oil will outlast demand

(Tulsa-AP) -- The chairman of ConocoPhillips says the world's oil supply will outlast the demand while remaining relatively inexpensive and becoming cleaner to burn.<br><br>Archie Dunham says technological

Wednesday, April 28th 2004, 12:00 am

By: News On 6

(Tulsa-AP) -- The chairman of ConocoPhillips says the world's oil supply will outlast the demand while remaining relatively inexpensive and becoming cleaner to burn.

Archie Dunham says technological advances will replace oil, gas and coal long before the world runs out of the fossil fuels.

The world uses more oil each year than oil companies find, even with improvements in exploration technology. And the world's oil demand is expected to grow by 60% in the next 30 years.

But Dunham says technology and such changes as hybrid cars will keep oil supplies flowing into the 22nd century.

Dunham spoke Wednesday at a business luncheon in Tulsa. ConocoPhillips has a refinery in Ponca City and operations in Bartlesville.