Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: William Nelson who wrote (13167)	3/1/1998 1:29:00 AM
From: Gottfried	Read Replies (3) of 95453

WN, >They state that oil is being pumped 3 times as fast as it's being discovered, yet reserve estimates keep going up.< If any of this were true, the oil companies would know it. Then they might take steps to make the oil last - like raising prices. I wouldn't pay much attention. "The Economist" had a good article about such predictions. It seems in the early part of the century the US government predicted oil reserves would last just a few more years. Later they revised it to a few more years etc. I looked for the article, but it is in the "Economist" archives now. Here's what I found - the full article costs... INDEX TERMS Science\|ecological disasters predictions, flaws and analysis; Environment\|ecological disasters predictions, flaws and analysis; DATE 20-Dec-97 WORDS 2707 Forecasters of scarcity and doom are not only invariably wrong, they think that being wrong proves them right IN 1798 Thomas Robert Malthus inaugurated a grand tradition of environmentalism with his best-selling pamphlet on population. Malthus argued with impeccable logic but ...

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