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World oil reserves rise, say German analysts

Guest writes: HAMBURG - The world's proven commercially-viable oil reserves increased by one percent to 173.3 billion tons in 2004, the German oil industry news service EID reported.

Hamburg-based EID said the rise was chiefly due to higher reserves reported last year in Africa, chiefly in Nigeria and Libya.

At 173.3 billion tons, the reserves would cover the world's needs for 50 years at current levels of consumption, the EID newsletter said.

The reserves are those which are proven and which, using today's production technology, are commercially viable.

http://www.expatica.com/source/site_article.asp?subchannel_id=52&story_id=15823&name=World+oil+reserves+rise%2C+say+German+analysts+

Posted on Friday, January 28 @ 15:44:54 PST by aaron

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Re: World oil reserves rise, say German analysts (Score: 1)
by Taskforce_Unity on Saturday, January 29 @ 00:42:53 PST
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Ridiculous rapport, getting the Tar sands as proven reserves for instance. Ofcourse they are proven but you cannot compare them in that way to conventional oil and put them on a heap

Re: World oil reserves rise, say German analysts (Score: 1)
by MikeB (peasantry@maine.com) on Saturday, January 29 @ 04:27:03 PST
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"At 173.3 billion tons, the reserves would cover the world's needs for 50 years at current levels of consumption"

Over and over and over, they tell the same falsehoods.

Re: World oil reserves rise, say German analysts by bobcousins on Saturday, January 29 @ 16:06:55 PST

Re: World oil reserves rise, say German analysts (Score: 1)
by TWilliam on Sunday, January 30 @ 08:41:36 PST
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" ...at current levels of consumption... "

*chuckle* Always that little caveat, eh?

Anyone notice any of these people recommending 0% economic growth from this moment onward?

"The greatest shortcoming of the human race is our inability to understand the exponential function." ~ Professor Albert A. Bartlett

Re: World oil reserves rise, say German analysts (Score: 1)
by phalarope39 on Thursday, June 08 @ 22:50:09 PDT
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