 | TWIP (This Week in Petroleum) 8-29-2007 | The Oil Drum | Saudi Arabia - production forecasts and reserves estimates |  |
187 comments on DrumBeat: August 30, 2007
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187 comments on DrumBeat: August 30, 2007
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So John S. Herold is - intentionally or not - misleading when they use the term "found" in the above context. They refer not to new oil discoveries, but to additions to known reserves, which may be newly accessible, but not newly 'found', correct. So the bottom line is that globally we did not collectively discover anything near 30 billion barrels last year.
If you truly want to know what is going on, read the actual Herold & Lovegrove Report.