Misquoting Marx ?

Mark Jones markjones011 at tiscali.co.uk
Thu Jan 16 02:33:31 MST 2003

David Schanoes wrote:
> Let us return to recoverable reserves of oil, and production and
> consumption
> estimates:
> First, estimates for both oil production and consumption through 2025
> assume a 2 percent average annual rate of growth(aarg).  In 2025 daily
> production is est to be 123 million barrels/day.  Consumption is
> figured at
> 118 mill/day.  Peak production year, assuming no further discovery of
> reserves is 2037.
> And what about reserves?  Well for one thing, estimates of reserves have
> grown since WWII.  1942 estimates of recoverable reserves were 600 billion
> barrels, 1/4 to 1/5 of the current estimates of recoverable reserves.
> This estimate is from the US EIA and anybody who thinks the report  is
> dishonest can call the author of the estimate, John Wood,
> personally at 214
> 720-6160 or email him at john.wood at eia.doe.gov

I'm not getting into this. Wood's reports have been widely criticised. You
need to read more widely, David. Tell us something we don't know.


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