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

[mike martin]

WAY TO GO GREG!


----- Original Message ----- 
From: "Greg and April" <gregandapril at earthlink.net>
To: <gasification at listserv.repp.org>
Sent: Monday, March 03, 2008 4:08 PM
Subject: Re: [Gasification] Proven oil reserves are not a measure 
offuturesupply of world petroleum. It is a well known fallacyin thepetroleum 
industry to treat them in this way,and it has had serious political 
consequences.


> 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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