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.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2897)	3/26/2004 7:56:39 AM
From: el_gaviero	Respond to of 116555

"China discovers huge oil deposit” Mish, I’d wait for confirmation, clarification, and maybe even a bit of stuff actually coming out of the ground before giving credence to the report that China found 40 billion tones of oil and gas, i.e., in the neighborhood of 280-300 billion BOE. If this were all oil, it would be another Saudi Arabia. If it were only half oil, it would still be two times or so total N. Sea ultimate. I flat don’t believe structures that could hold such vast amounts of oil could have been missed for so long. (Keep in mind, for example, that the N. Slope of Alaska was first made into a naval petroleum reserve some ridiculous number of years ago – in the 1920s if I remember correctly.) Seppo Korpela (on the Yahoo energy resources thread) emailed Jean Laherrere about this matter, and received the following reply: “It seems to be only speculation on ultimate they confuse reserves and resources China discovery in 2002 was reported as 37 fields with about 0,7 Gb and in 2003 38 fields with 0,3 Gb”