ODAC Guest Commentary – Colombia oil reserves

…large reserves numbers relayed by ANH, Colombia’s national hydrocarbons agency, whose aim is to set out details of a Colombian licensing round, must be taken in context. Especially when the numbers are conflated with a target output hoped for over a period of just a decade. It takes many years to develop heavy oil reserves even in accessible areas.

Oil execs asked to justify huge profits at Congressional hearing

The executives of the five biggest oil companies were called to testify at a congressional hearing on Tuesday. Lawmakers took them to task for making enormous profits but investing next to nothing in renewable sources of energy. (Excerpts from testimony) Followed by commentary from analyst Steve Kretzmann of Oil Change International.