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

To: jttmab who wrote (206984)	10/26/2006 9:26:04 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 281500

Several years back, OPEC tied each country's production quota to the amount of their reserve. Almost overnight the "known" reserves of every member country jumped, some times by more than 100%!!

To: jttmab who wrote (206984)	10/26/2006 4:37:03 PM
From: mistermj	Read Replies (1) \| Respond to of 281500

WHAT HAPPENS TO RESERVES WHEN THE PRICE INCREASES? Canada's reserves recently jumped +174 Billion Barrels. So whats your point? Reserves are just a function of price. They do not point to resource depletion. Reserves are dynamic and controlled by price...you think they are static and finite. Your analysis is much too simple and glaringly leaves out the most important factors. WHAT HAPPENS TO RESERVES WHEN THE PRICE INCREASES?