William Feader

1,238 Billion Barrels of Oil Reserves: Is This an Oil Price Bubble?

In addition to the other posts I would like to add that there is no way that we will be able to actual produce the entire 1.2 Trillion barrels. Reserve depletion rates are logarithmic, and then you also have to consider the net export factors (i.e. how much of the production of oil exporters will actually make it into the world supply and not be used for their domestic consumption.

No, I don't buy this argument. We are tight on the supply/demand curve and I will remain very nervous about the crude supply unless and until someone discovers another super-giant field, if ever.