X-Message-Number: 27096
From: "marta sandberg" <>
Subject: Vanishing oil reserves
Date: Thu, 22 Sep 2005 10:33:36 +0800

It seems that oil generates a lot of heated debate and I do not want to 
become involved in a long convoluted thread, but there is it I generally 
accepted that stated proven oil reserves cannot be relied on.

OPEC changed their rules a few years back and decided the export quotas 
would depend on the oil reserves of member countries.  In the next year the 
members started to announce that they had  re-evaluated' their reserves and 
  surprise, surprise   they where much larger that previously thought.  At 
first the increases where rather modest, add an addition 10% or 20%.  In the 
end, reserves could quite literally double overnight.  As this happened 
without any new testing, it is unlikely that the new figures have any 
connection with reality.

If you want a good comprehensive overview of the situation I would recommend 
Campbell, C. J. & Leherr re, J. H. (1998) End of Cheap oil Scientific 
American 278(3).

Long life,

Marta

- - - -

Message #27089
References: <>
From: David Stodolsky <>
Subject: Re: Under the Premise that Knowledge Is Power:
Date: Tue, 20 Sep 2005 21:30:20 +0200

. . . Proven Reserves have never been higher. There are hundreds of
billions of barrels in Venezuela, in Saudi Arabia, in Iraq, and in
Iran,  . . .

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