... imminent and Peak Oil don't necessarily contradict each other
... we seem to have had peak oil - the real question now is what is the pathway and how to make money en route, including gas and etc
regards, dspp
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....err...hello again
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Re: ....err...hello again
On the question of peak oil or otherwise, it will be interesting to see what reserves Gaffney Cline attribute for Saudi Aramco's flotation.
Obviously Saudi have claimed 260bn bbls for ever and a day........but they have never (as far as I'm aware) been assessed to the same standards as western listed companies. So what will that GC analysis imply for the country as a whole?
Might be quite important for sentiment, I suspect......especially if the figure was materially different from the historical claims.
Obviously Saudi have claimed 260bn bbls for ever and a day........but they have never (as far as I'm aware) been assessed to the same standards as western listed companies. So what will that GC analysis imply for the country as a whole?
Might be quite important for sentiment, I suspect......especially if the figure was materially different from the historical claims.
Re: ....err...hello again
emptyend wrote:Might be quite important for sentiment, I suspect......especially if the figure was materially different from the historical claims.
That figure will presumably depend on the, ah, assumptions, inferences and interpretations being made.
Cynicism aside, it's an interesting thought and although I can't imagine any real shock would be forthcoming the implications would be quite something.
SW10
Re: ....err...hello again
SW10Chap wrote: I can't imagine any real shock would be forthcoming the implications would be quite something.
SW10
Thats the point. When was the last time you saw internal management estimates of reserves being 100% validated by external consultants having their first look at them?
Of course the production history and data depth available in Saudi Arabia should be second to none - but why should the assumptions etc being made by the consultants be identical to those made by Aramco (apart, of course, from the usual problem of consulting independence from powerful clients).
I'd also think the job of assessing reserves that are so large and widespread in different fields is a non-trivial exercise.....so when will they report?
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