Therefore...

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Therefore...

jms — 4/20/2004 2:05:55 AM (archived)

Therefore:

Estimates of worldwide petroleum reserves (probable-proven-recoverable) are in error, and likely inflated. Shell's error is some 22% (for one year). Most likely at the high end of overstatement. Hopefully.

Therefore:

Future production estimates are likely also overstated.

Therefore:

Estimates of how long oil will be the primary energy source for the world economy are inflated.

That's what I thought.

The whole thread (14 posts)

Shell sacks CFO, oil reserves estimates lowered, again. - jms - 4/19/2004 8:11:54 PM
- Corrected link - jms - 4/20/2004 1:56:13 AM
  - re: heh heh, forgot about this subject - Success_Machine - 4/20/2004 2:41:25 AM
    - food or fuel - jms - 4/20/2004 3:44:20 AM
      - re: we'll eat the food component, and make fuel out of the leaves and stem - Success_Machine - 4/20/2004 6:05:53 AM
        
        thanks for the reading material... - jms - 4/20/2004 1:36:01 PM
        
        re: no problem, and no worries - Success_Machine - 4/21/2004 8:58:39 AM
- Oil reserves are always over-estimated and over-reported. - David F Mayer - 4/19/2004 9:16:25 PM
  - Therefore... - jms - 4/20/2004 2:05:55 AM
    - The current situation regarding the petroleum situation is like the guy who fell off the top of the Empire State Building. - David F Mayer - 4/20/2004 3:40:03 AM
      - So when does the next oil shock come? - Gary - 4/20/2004 4:17:08 AM
        
        re: You mean the "Hubbert Peak" ? - Success_Machine - 4/21/2004 7:25:01 AM
        
        An excellent analysis... - jms - 4/21/2004 7:44:42 PM
  - "Lies, cover-ups, fat cats and an oil giant in crisis" - Bowser - 4/20/2004 1:04:12 AM

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