Current Events — HabitableZone

Current Events » in reply to Um, Yeah. So Podrock is a geologist...

re: Um, Yeah. So Podrock is a geologist...

The "net buzz" number of 413 billion barrels [ranging from 271 to 503 billion barrels] compared to the current assessment of 3.65 billion barrels of oil is sobering, but the "net buzz" also included that it was speculative and that this report [of 3.65 billion barrels] was forthcoming, and the "hope" was this report would confirm the "net buzz" number.

But what get from Podrock, is that at this point we can't rely on the 3.65 billion number.
So, the "hope" of "net buzz" number has was not met- apparently it was hoped that assessment would be much higher, but from what Podrock said I get that there is significant difference between an assessment and estimate, and neither reach the confidence level of a proven reserve. And so one should not at this point add 3.65 billion barrel as proven reserve.

It seems to me that with an assessment of 3.65 billion barrels, some additional effort will be made [in addition to present efforts] of extracting oil in this area. And in couple year this 3.65 billion number may be confirmed so as to reach the level of a proven reserve- or it's possible far less could be found or more could be found.

But would guess that if oil doesn't remain above $60-80 per barrel the effort to find oil in this area wouldn't be very profitable. So, therefore the known [I suppose it can be said proven] reserves of shale oil which does reach the kind of level of Saudi Arabia and could mined at $60-80 barrel price is at this point more promising.

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