Anatomy of an oil discovery

Using a correct interpretation of PetroChina’s reserves numbers, Sandrea’s production model provides ballpark estimates that moderate the hyperbole accompanying the Jidong discovery. Think of it this way: suppose you are doing your laundry and you find a $20 bill in your pants pocket. Even if you are thousands of dollars in debt, how would this lucky find make you feel? At that moment, you would feel good!

Climate – May 16

Scientists back off theory of a colder Europe in a warming world
California-sized area of ice melts in Antarctica
Interview with climate scientist James Hansen (his paper on PO and climate)
Deloitte says lack of corporate energy strategy bad for bottom line
New Scientist: A guide for the perplexed