So you are saying that the Globe and Mail is being alarmist in its claim.  It's a new thing for conservative mainstream media to behave this way.
The MSM have a long history of using R/P ratios despite the fact that they are not useful for estimating the remaining resource.

Sometimes the effect is alarmist and sometimes it is comforting (eg the numbers often quoted for coal). It matters not. It is a simple statistic which is easy to understand, and it is probably for this reason that it is most often used by the MSM.