Building a world of
resilient communities.

MAIN LIST

 

Oil reserves over-inflated by 300bn barrels – al-Huseini

[Excerpt]: The world’s proved reserves have been have been falsely puffed up by the inclusion of 300 billion barrels of speculative resources, according to the former head of exploration and production at Saudi Aramco, and this explains the industry’s inability to raise output despite soaring prices.

Sadad al-Huseini’s presentation to the Oil and Money conference in London went substantially as previewed by lastoilshock.com, but the analysis he delivered may also throw light on the infamous OPEC reserve additions of the 1980s...

Editorial Notes: Also see the compelling interview that David Strahan conducted yesterday with Sadad al-Huseini: Oil production has peaked, prices to soar - Sadad al-Huseini -BA

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Five Billion Years of Energy Supply: the "Stereosphere" and the Upcoming Photovoltaic Revolution

Both the biosphere and the stereosphere use solar light as the energy …

Peak Oil Review - Aug 22 2016

 A weekly roundup of peak oil  news, including: -Oil and the …

Limitless imagination and physical limits

How do we distinguish those ideas that are forever going to remain in the …

Some Reflections on the Twilight of the Oil Age (part III)

The impact of the Tooth Fairy Syndrome is all the more felt in the main …

Peak Oil Review: A Midweek Update - 18th Aug 2016

 A midweek update. Oil prices climbed for the fifth straight day on …

Facts and Falsehoods in Energy Transition  

We...try to separate fact from falsehoods in this wide-ranging interview. It …

In Scathing Review, EPA's Science Advisors Tell Agency Not to Downplay Fracking-Related Water Contamination

On Thursday, the Environmental Protection Agency's scientific advisors …