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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Moominoid who wrote (67181)8/10/2005 1:34:24 PM
From: Slagle  Read Replies (2) of 74559
 
Moominoid Re: "1.69 billion" You come across things like that all the time and in some cases probably part of an intentional effort to confuse the reader. Decimal point in the wrong place or saying "billion" instead of "million" ect.

In a recent Matt Simmonds interview he explains how back a few years ago he was involved with some CIA policy people in preparing some sort of report about the state of the world oil reserves and here these CIA guys were quoting these numbers to six or seven significant figures about the size of the oil reserves in various nations including the expected rate of production next year and ten years from now and Simmonds questioned the basis of these statistics. He found out that there really was no basis for the data, that it was mostly numbers provided years, even decades ago by various governments and agencies and over the years subjected to various multipliers. He says that NEVER EVER has a field by field survey ever been attempted and that is the inspiration for his book and his attempt to do a field by field audit.

If what he says is true then all the supposed experts you have heard all your life spouting numbers about the amount of oil in the world have ALWAYS just been blowing smoke, or just talking into the camera to hear themselves talk. All just jabber based on nothing.
Slagle
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