On 9/8/07, sartesian <[EMAIL PROTECTED]> wrote: > How about it? How about this: Reserves, are by definition an economic > category not geological. By definitions reserves are an amount of oil > that can be produced in a specified period of time, using the currently > available technology, and at a profit. > > You should look it up. > > The fact that every single peak oil theorist and advocate either > ignores, obscures, or is simply unaware of the definition of reserves > tells us all we really need to know about the theory, the theorists, its > inevitability, and where the butter is on the bread. >
I'm aware of what reserves are, and the structure of geological formations that allow FOR the creation of oil to fill those reserves (...all found, with ALL KNOWN super-giant field explored, except perhaps the planetary poles) and the difficulty the oil companies are going to have replenishing those reserves with increasingly smaller geological formations that DON'T replenish either... at least not for a loooooooong time. If your solution is 'throw money into exploration, development & recovery', the Iraq (and perhaps soon-to-be Iran) war, and the ongoing strife in Nigeria and other parts of Africa are an example of the expenditures in cash (almost a half-trillion dollars for Iraq currently) & social stability (MEND or some other player will eventually destroy the Nigerian government unless the U.S. wants to 'Somalia' them at another massive cost of war), then tell me how the oil companies would recoup their investment? Pass it on to the consumer buying increasingly expensive oil into an decreasingly valued dollar? I'm assuming of course that the continuation of wars made blatantly for the sole purpose of acquiring oil will devalue our currency and cause major sociological disturbances that will disrupt consumption patterns as well. ...or does everyone just get bailed out finally with valueless dollars? lcm
