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18 comments on IEA's Resources To Reserves - Not to Worry!

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NC on October 22, 2005 - 5:47pm Permalink | Subthread | Comments top
Dave,

Thanks for bringing this to our attention and digging the important pieces out.  The core group at TOD is really tireless in getting the numbers in front of the rest of us.

In my opinion the whole report can be boiled down to this quote from above -

"Out of these 20 trillion barrels of oil equivalent (boe), 5 to 10 trillion can be considered technically, but not necessarily economically, recoverable, depending on recovery rates, technological progress and long-term price assumptions."

They are basically saying in this report what all of us who believe in Peak Oil are saying.  We will never run out of oil, just oil that can be recovered fast and with positive EROEI.  Just reread the sentence ----"but not necessarily economically, recoverable---" and think about the implications.  Having a huge proven reserve of oil that is unrecoverable is useless as an energy source.

Half of all the oil they list probably can't be recovered economically but they still tell everyone we have lots of oil in the ground.  And because of this we can't be near peak production.  

It's fun with numbers on a spreadsheet.  But like the previous post said, they haven't technically lied, and have left an escape route if that oil is never brought to market - we didn't develop the technology.

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NC on October 22, 2005 - 5:53pm Permalink | Subthread | Parent | Comments top
And since we have to develop this new technology for hard to get oil, why don't we work just as hard on other sources of energy that are less harsh to our own biosphere.  Lets at least TALK about doing both simultaneously.  Not try and bury or denigrate any alternative to oil and NG.
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