For peak oilers

Exxon, who has been accused in the past of being too conservative in terms of exploration and development, has been finding more oil than it produces for each of the last 16 years,

5 thoughts on “For peak oilers”

  1. I am not a peak oiler, but I’m not sure what this is meant to prove.

    a) are there major oil companies who do not find more reserves than they produce? What do their share prices look like?
    b) if it’s been going on for 16 years I’m not sure how it could come as a blow to any peak-oilers today.
    c) Exxon’s entire reserves – 12bn barrels from the article (I thought it was quite a bit higher, I should say) – represent only 1% of known global reserves. So what conclusions can be drawn from such a small sample?

  2. If you believe the sales pitch of an oil prospector, I can get you some excellent deals on undeveloped land in Florida.

  3. Exxon tend not to do a huge amount of exploration anyway. They come in an slaughter the huge white elephant that nobody else can, only once somebody else has found it.

  4. Correct me if I’m wrong, but isn’t the great bulk of the reserves under the ownership of various third world governments ? If so, an important question is whether they keep finding enough oil to compensate for the depletion of their reserves. My guess is “no”.

Leave a Reply

Your email address will not be published. Required fields are marked *