On Tue, Mar 06, 2007 at 01:01:34PM -0600, Ron Johnson wrote: > On 03/06/07 10:08, Roberto C. Sanchez wrote: > > > > They sit on a high-demand commoditity, which is in declining supply. > > Maybe not. > > http://www.nytimes.com/2007/03/05/business/05oil1.html > > In a wide-ranging study published in 2000, the U.S. > Geological Survey estimated that ultimately recoverable > resources of conventional oil totaled about 3.3 trillion > barrels, of which a third has already been produced. > More recently, Cambridge Energy Research Associates, > an energy consultant, estimated that the total base of > recoverable oil was 4.8 trillion barrels. That higher > estimate ? which Cambridge Energy says is likely to > grow ? reflects how new technology can tap into more > resources. > Good point. However, while our technology and ability to extract petroleum may be improving, the supply is still declining. So, I guess by one measure supplies (at least accessible supplies) are increasing. Regards, -Roberto -- Roberto C. Sanchez http://people.connexer.com/~roberto http://www.connexer.com
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