"sartesian" 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.
and "Buffalo" wrote:
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...
Since reserves are an economic category based on profitability at the
current price level; and since the current price level has been sustained
far above even recent levels; the current quantity of reserves should also
include an increase reflecting that much higher level--if, that is, there
really was that much submarginal oil sitting there waiting for the
price to go up enough to justify its inclusion in the reserves. That this
has not happened globally has to be significant.
Shane Mage
"When we read on a printed page the doctrine of Pythagoras that all
things are made of numbers, it seems mystical, mystifying, even
downright silly.
When we read on a computer screen the doctrine of Pythagoras that
all things are made of numbers, it seems self-evidently true." (N.
Weiner)
