OIL

[highlandsflyer]

I have been told that the oil reserves are massively underestimated.

Could this be a conspiracy to retain value of that asset?


Call me cynical. But call me.

 

[t-stoff]

Sure, and not to mention that most of the recent discovery's are from non OPEC country's, such as Brazil, who insists their oil is for domestic use only.
All the logic behind the over inflation of the price is based on that factor plus political tensions and demanding.

 

[suburbanreuben]

Where did you hear that? I've heard that the oil shale fields of Saskatchewen hold more reserves than the rest of the world put gtogether, or some such nonsense.
There's no harm in our being taught to value it more highly; we might even start to use it efficiently.

 

[highlandsflyer]

The resources are finite by their nature. I see no harm in underestimating them in conservation terms.

Number of sources, but main one geology workers with major oil companies.

 

[poweredbypies]

There is plenty left in the planet its just getting it is getting harder.

 

[lewis1641]

they might tell us trhey are underestimating it for conservation reasons but that is a load of rubbinsh. there are too many politicians in positions of influence in the oul industry.its all about the money

 

[tintin40]

There is plenty left in the planet its just getting it is getting harder.

Agree. With the price of oil being high will mean it is worth getting it.

I'm pretty certain the planet will out live me.

 

[Easy_Rider]

It's the petrodollar that's the real cause of conspiracy theories. Without trade of oil in dollars the US would be in big trouble. Iraq tried trading in euros they went in and stopped that, the first thing they changed was the currency trade of oil. Iran has been trying to setup an oil bourse to trade in euros for the last few years....There are currently two bourses in the world and both trade in dollars. If you are a country and need to buy oil then you need to get dollars first by trading.

 

[dyna-ti]

I dont think we've taken rigs or wells that far offshore.Might be 200miles but i think its only something like 50 :? given the Atlantic is about 2000mls wide i think theres still a shit lot more further out.
Then theres all the big nature reserves like yellowstone.Just a matter of time before those are investigated further :?


Yeah,i think there still loads about :? More than theyre likely to admit.

 

[REKIBorter]

No wonder Argentina want the Falklands again. They are not speculating on Kelp farming to save the economy.