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Strategies & Market Trends : The Ego Forum
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To: JimisJim who wrote (11958)3/20/2013 9:41:09 PM
From: Zincman  Read Replies (2) of 12175
 
Very interesting. I am an utter novice on this subject but am learning all I can.

I am interested in learning more about old vs new oil. The arguments for these are, to me, absolutely fascinating.

One could argue there are vast known reserves that have not been made public. As well as argue the volumes being reported are intentionally misleading.

Access to abundant, low cost energy has its own set of problems for those trying to maintain balance of power in the world...

Can not raise prices w/ a surplus, so they say.

I remember the day the CEO and Chairman of BP were interviewed immediately after exiting a 4+ hour meeting w/ the POTUS. The meeting was to be less than a hour but ran over. A reported asked a question about this delay and the Chairman replied (something like) 'This is a complex issue. We are dealing w/ the largest deposit of oil in this hemisphere......"
I was shocked to learn the admitted size of that deposit. To my knowledge, that fact has never again been stated publicly and the interview has been removed from the web / feed.

I don't have the answers nor even know what I don't know about this topic...However, I have discussed this with two different Sr. people in the industry (big oil) and both believe there is much more oil than being reported, and that known, 'capped' supply is at all time highs.

Fwiw..

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