Peak Oil News >> Public Policy; Political and Legal News >> Proving Proven Reserves Are Proven: An Art Form Or A Science?

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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Proving Proven Reserves Are Proven: An Art Form Or A Science?

2007 writes: ...
Simmons presentation:

- Information on Yiabal and Ghawar, p. 29-30

- "if we fail to reform, we deserve any unfortunate surprises that befall us", p. 36

Simmonsco-Intl

Posted on Sunday, February 27 @ 06:42:55 PST by BabyPeanut

Most read story about Public Policy; Political and Legal News:
ARE We Out of Gas Yet?

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Re: Proving Proven Reserves Are Proven: An Art Form Or A Science? (Score: 1)
by BabyPeanut on Sunday, February 27 @ 06:47:39 PST
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Sunset Midway was found in 1888. It is still a giant oilfield.

Goes to show that size is not as important as speed. We need to get oil out of the ground fast now.

Re: Proving Proven Reserves Are Proven: An Art Form Or A Science? (Score: 1)
by Ralph (rd-at-newsfare-dot-com) on Sunday, February 27 @ 18:39:23 PST
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Wow.

Who can read the superbly honest and richly informative Simmons presentation, and still claim the world is not in a new era which forces us to adopt conservation?

If someone can manage to deny it, that person must be reading with eyes, ears and brain all closed tight.

Time passes and circumstances change. The sooner we can accept that in the realm of energy, the sooner we will begin building a new way of living. Only this can save us from tragedy as oil becomes a scarce resource.

The world has been gifted with petroleum and has achieved almost unimaginable gains in science and technology as a direct result of our harvest of this bounty.

Whether the incredible ride we have taken for the past 90 years will prove to have been a grim mistake or the lauching pad for a long victory of the human spirit, only WE can determine.

Why play the fools of history? We should sieze this opportunity to prove that the riches of cheap energy were not wasted on the human species.

Did we not ride these riches to a new level of understanding and mastery? And shall we not now prove ourselves worthy to use well that gain, in what we hope amounts to wisdom?

Re: Proving Proven Reserves Are Proven: An Art Form Or A Science? (Score: 1)
by architectonic86 on Friday, June 02 @ 12:48:30 PDT
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