Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (47969)	9/29/2002 5:30:43 PM
From: quehubo	Read Replies (1) \| Respond to of 281500

Nadine - you are missing a critical point. Reported crude oil reserves did grow from 1970 to 1990 after the OPEC shock. But 90% of the growth in reported reserves are in Arab OPEC nations, plus Iran, Venezuela and Mexico. Since 1990 reported proved reserves is essentially flat. Of the 1 billion barrels of proved reserves, 800 million of them are in OPEC nations. SA has a 260 million share or 1/4 of all reserves. Passing peak production does not mean the globe will run out, it just means the prices will rise with the resulting consequences for the global economy. Creating a stable environment in Iraq is essential to meet the world's oil needs over the next 20 years. A stable environment in Iraq could support beneficial changes in Iran & Iraq. With the quantity of oil sitting under Mideast countries, we had better make sure the flow is secure and the money is not used to threaten our existence.