[Gasification] Proven oil reserves are not a measure of futuresupply of world petroleum. It is a well known fallacy in thepetroleum industry to treat them in this way, and it has had serious political consequences.

[Greg and April]

Since when did the list become for professionals use only and when did rubbish ( a term for trash ) become a forbidden word - especially when it is used to describe something that has the appearance of such?

In case you missed it, I gave the data that supports my belief, and you still would see me gone from the list, because I don't support your beliefs - who is being "unprofessional"? 

The simple fact is, you don't like people who believe differently and are willing to express their opinion - as such perhaps you are the one that should be leaving the list.

Greg H.

  ----- Original Message ----- 
  From: MMBTUPR at aol.com 
  To: gregandapril at earthlink.net 
  Sent: Monday, March 03, 2008 11:46
  Subject: Re: [Gasification] Proven oil reserves are not a measure of futuresupply of world petroleum. It is a well known fallacy in thepetroleum industry to treat them in this way, and it has had serious political consequences.


            from  Lewis L Smith

  You miss the point. The use of the word "rubbish", especially without supporting data and analysis, is inappropriate in a professional discussion group. 

  Incidentally, I and many other people have lost the confidence in published figures for reserves, for the reasons mentioned previously. Too many errors, omissions and bald-faced lies.

  Nothing of course is certain in the oil industry and has not been for a long time. Indeed since the days of Col. Drake, its basis has been playing off mathematical expectations. [ Not very good odds x big potential payoffs. ] 

  Today, given the odds which confront us, prudence dictates that at the very least, one have contingency plans in hand, in case of a bad-case scenario. That is the practical implication of findings on peak oil. A word to the wise is sufficient.

  Incidentally, since you too insist on intemperate language, please do not send me any more messages. 

  But do read what Deutsche Bank's oil team is saying about oil production and oil prices. Then send them a one-sentance message saying that what they are saying is "rubbish" and see what kind of an answer you get, to be posted on the Gasification List.

  Sincerely. ###


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