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Strategies & Market Trends : Value Investing
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To: Wyätt Gwyön who wrote (16584)3/12/2003 7:15:30 PM
From: Night Trader  Read Replies (1) of 78688
 
"those extra 200 billion barrels are a true Pollyanna assumption--like adding 22 brand-new Prudhoe Bay discoveries to known reserves, when we will be lucky to get more than one in the real world."

Iraq has much more reserves than the official figures (112B), perhaps another 100B or so, but exploration has understandably been put on hold over the last decade. The Iraqi deputy oil minister recently said that Iraq holds even more than that, a total of 300B Barrels.
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