78 comments on Predicting Future Supply from Undiscovered Oil
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78 comments on Predicting Future Supply from Undiscovered Oil
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You have changed the straw's diameter, not the size of the glass.
Further, to the extent that discovery means 'new,' the wells are still going to be concentrated where the oil is - the problem being, the area of the globe where the oil isn't is pretty well known at this point.
Right, and the point is that we have more and more efficient ways of analyzing the smaller and smaller places left to discover oil. This is an example of rapidly exploring diminishing returns. A double-whammy, so to speak.