Oil and overproduction 3

Mark Jones markjones011 at tiscali.co.uk
Sun Jan 12 12:48:05 MST 2003


David Schanoes wrote:

> Are petroleum and hydrocarbon reserves finite?  Absolutely.  But are we at
> the end of those reserves?  Based on the historical, social, rotations of
> capital, I say no.  And the rotations, the movement of capital, the
> trajectory of the oil industry, from exploration to production to
> overproduction, is determined by the decline in the rate profit, not the
> depletion of resources.

This will make for interesting discussion topics in the queues for gasoline.

Mark


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