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Peak Oil News: Proved Reserves Of Crude Oil Fall In 2008, Reflecting Low End-Of-Year Prices
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Proved Reserves Of Crude Oil Fall In 2008, Reflecting Low End-Of-Year Prices | Cattle Network : The Energy Info.. http://bit.ly/3yNhh3 11/4/2009 |
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Proved Reserves Of Crude Oil Fall In 2008, Reflecting Low End-Of-Year Prices: The end-of-year crude oil price f.. http://bit.ly/3yNhh3 11/4/2009 |
Proved Reserves Of Crude Oil Fall In 2008, Reflecting Low End-Of-Year Prices
Peak Oil News —
... average of first-day-of-the-month prices to develop their reserves estimates. This average price will be less sensitive to volatility in prices. The SEC's new rules would have shown an increase in oil prices from $71.79 per barrel in 2007 to $101.63 per barrel in 2008, a 42 percent price increase rather than the significant decline operators actually used. Under the new rules, there would likely have been a smaller drop (or possibly even an increase) in crude oil proved reserves. Cattle Network
Drumbeat: November 5, 2009
The Oil Drum —
... It will also seem nasty to the doom-sayers, who for decades have predicted an oil scarcity that never came. But the 21st century is very likely to overflow with oil. There are at least three main reasons for this.
First, oil reserves are finite. This is incontrovertible. But even so, no one knows how finite they are. And since we don't know the total amount of oil resources existing underground, it's impossible to calculate the curve of future supply.
Proved Reserves Of Crude Oil Fall In 2008, Reflecting Low End-Of-Year Prices
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