40 comments on New SEC Oil Accounting Rules
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40 comments on New SEC Oil Accounting Rules
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I think your are right that the changes could act to bamboozle the average American. I hadn't thought about oil shale. It is hard to imagine how one could consider it to be economically recoverable.
you are correct, gail.
oil shale deposits would only be considered reserves if and when they are demonstrated to be economical to produce.
What is the basis for that statement? What price point would be used to determine if it were 'economical to produce'? Where in the rule change is this stated, especially in light of probable and possible reserves?
"Where in the rule change is this stated, especially in light of probable and possible reserves? "
this is not stated in the rule change, but is in the basic definition of proven reserves. wrt possible oil shale reserves i suppose someone could call them possible reserves, based upon estonia, but imo, that is even a stretch. i dont think anyone gives any credibility to possible reserves anyhow.