Posted by LAA on May 18, 2011 at 08:48:23 from (86.51.147.113):
In Reply to: O/T Oil/Gas posted by jhilyer on May 18, 2011 at 06:36:28:
Normally speaking, crude oil reserves refer to proven, recoverable but undrilled and unproduced product, not actually what is in refineries, on tankers, in the pipleine system enroute etc. That amount is usually referred to as supply. As far as reserves go, I have been in the business since 1973 and the worldwide proven reserves of both oil and gas have increased every year, not decreased as many gov't officials and environmentalists would like everyone to believe. The reason for the increse of recoverable reserves is advancements in exploration, drilling and production/reservoir enhancing technology, same as a silicon chip of today storing the information that it took a cray computer of the 60's or 70's to process. The USA could easily become the heavy manufacturing powerhouse that it was in the 50's and 60's and pay good wages if we got serious about developing our nat. gas and oil resources within the lower 48. China and Japan run sweat shops and pay slave wages but they are both nearly absolutely dependent on imported energy, we don't have to be, cheap energy will always trump cheap labor.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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