On 9/8/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > the discussion might not be productive unless we have new information.
Reiteration: How about that one percent increase in global oil reserves last year, SOLELY DUE to Canada's tar sands... and I won't even mention the eco-holocaust that will ensue. Global oil reserves up only 1% last year Canada's Oilsands Sole Booster, Study Says Claudia Cattaneo, Financial Post Published: Thursday, August 30, 2007 http://www.canada.com/nationalpost/financialpost/story.html?k=93003&id=7bd3bdc5-8af5-425a-9875-7507731c1c52 CALGARY -- Record global oil and gas profits of US$243-billion and record spending of US$401-billion have resulted in a marginal 1% increase in world oil reserves last year -- all of it coming from a 1.9-billion-barrel addition from Canada's oilsands, according to a new study. Without Canada's contribution, 228 public oil and gas companies active globally and included in the study would have collectively produced more oil than they found, John S. Herold, a U.S.-based independent petroleum research company, and Harrison Lovegrove & Co., a global oil and gas advisory firm, said in the 2007 Global Upstream Performance Review, released yesterday. That's new. ..or: Demand to Outpace Crude Supplies http://72.14.253.104/search?q=cache:taRVKhGPTfYJ:www.mercurynews.com/business/ci_6389190+Demand+to+Outpace+Crude+Supplies+washington+post&hl=en&ct=clnk&cd=1&gl=us&lr=lang_en&client=firefox-a By H. JOSEF HEBERT Monday, July 16, 2007; 9:25 PM WASHINGTON -- Conventional crude oil supplies won't keep up with growing global demand in the next 25 years and other fuels from ethanol to liquefied coal and oil from tar sands will be needed to close the gap, says a draft oil industry report. The draft report by the National Petroleum Council, an advisory group to the federal government, is unusual in its emphasis on the need for a broad range of supplemental fuels and conservation to meet future petroleum needs. The document, titled "Facing the Hard Truths about Energy," is to be approved by the 175-member council Wednesday and then presented to Energy Secretary Samuel Bodman. A copy was provided to reporters Monday. [..] I don't think personality or motive bashing is anything more than diversion from a hard truth. Demand is up, and production is apparently terminally down. Leigh
