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Old 12-19-2008, 04:17 PM   #16
Chromer
Scooby Specialist
 
Member#: 20325
Join Date: Jun 2002
Chapter/Region: NESIC
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Reported finds are guesses. Educated guesses, but still guesses.

Estimated reserves are even worse. Most oil reserves are owned by governments that have strategic reasons for mis-stating their reserves.

Individual wells follow a decline pattern. Production of fields follows the same curve. Ditto basins.

There is not an infinite amount down there. We need to prepare for it becoming completely uneconomic to continue using. Fortunately a variety of factor are coming together to make this possible.
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