[MattSavinar]

$this->bbcode_second_pass_quote('Geomancer', 'I') believe that oil reserves are increasing and the price increases are created by speculators on Wall Street who are creating an oil price bubble and collapse similar to the sub prime bubble.

[dinopello]

$this->bbcode_second_pass_quote('MattSavinar', '')$this->bbcode_second_pass_quote('Geomancer', 'I') believe that oil reserves are increasing and the price increases are created by speculators on Wall Street who are creating an oil price bubble and collapse similar to the sub prime bubble.

[KillTheHumans]

$this->bbcode_second_pass_quote('MattSavinar', '')$this->bbcode_second_pass_quote('Geomancer', 'I') believe that oil reserves are increasing and the price increases are created by speculators on Wall Street who are creating an oil price bubble and collapse similar to the sub prime bubble.

[KillTheHumans]

$this->bbcode_second_pass_quote('Drifter', '')$this->bbcode_second_pass_quote('KillTheHumans', '
')
Wow...and here I was worried about running out soon!

[DantesPeak]

$this->bbcode_second_pass_quote('KillTheHumans', '
')Well, thats what people keep saying....and here we are, ever since light sweet crude peaked in 2005, still waiting to use those cannabalization recipes dreamed up by the more creative around here.

[Twilight]

$this->bbcode_second_pass_quote('KillTheHumans', 'I') stated facts obtained from the EIA website and did a calculation on them. Refute the EIA all you'd like, its their information.

[JustaGirl]

Geesh, some of you are so rude to 'newbies'(not just this one). I thought the point of this site was to educate people, not scare them away before you even get the chance.

[TheDude]

$this->bbcode_second_pass_quote('KillTheHumans', 'S')o you are bashing a guy for noticing the following.....global consumption between 1980 and 2006 was approx 687 BBO.

Additions to reserves according to the EIA during that exact same time frame are......643 BBO!!!!

[TWilliam]

$this->bbcode_second_pass_quote('JustaGirl', 'G')eesh, some of you are so rude to 'newbies'(not just this one). I thought the point of this site was to educate people, not scare them away before you even get the chance.

[btu2012]

$this->bbcode_second_pass_quote('Geomancer', 'I') believe that oil reserves are increasing and the price increases are created by speculators on Wall Street who are creating an oil price bubble and collapse similar to the sub prime bubble.

[btu2012]

$this->bbcode_second_pass_quote('dinopello', 'M')aybe, but this is a commonly held view.

[Smudger]

$this->bbcode_second_pass_quote('KillTheHumans', '[')I stated facts obtained from the EIA website and did a calculation on them. Refute the EIA all you'd like, its their information.

[KillTheHumans]

$this->bbcode_second_pass_quote('Twilight', '')$this->bbcode_second_pass_quote('KillTheHumans', 'I') stated facts obtained from the EIA website and did a calculation on them. Refute the EIA all you'd like, its their information.

[KillTheHumans]

$this->bbcode_second_pass_quote('DantesPeak', '
')
I'd like you to name one leading person in PO movement that said there would be cannabalization starting in 2005.

[KillTheHumans]

$this->bbcode_second_pass_quote('TheDude', '')$this->bbcode_second_pass_quote('KillTheHumans', 'S')o you are bashing a guy for noticing the following.....global consumption between 1980 and 2006 was approx 687 BBO.

Additions to reserves according to the EIA during that exact same time frame are......643 BBO!!!!

[KillTheHumans]

$this->bbcode_second_pass_quote('Smudger', '')$this->bbcode_second_pass_quote('KillTheHumans', '[')I stated facts obtained from the EIA website and did a calculation on them. Refute the EIA all you'd like, its their information.

[TheDude]

$this->bbcode_second_pass_quote('KillTheHumans', 'H')ow the heck would any of us know that? Their information is their information, if you suspect everyones information, then its pretty easy to make up your own and declare whatever scenario you'd like I suppose.

[TheDude]

Incidentally here's what happens to reserves in the US, where genuine audits are conducted - this from who else but the EIA:

$this->bbcode_second_pass_quote('', 'T')he United States had 20,972 million barrels of crude oil proved reserves as of December 31, 2006. This is 4 percent (-785 million barrels) less than in 2005. The
principal factors contributing to the declinewere lower
than average net revisions and adjustments and fewer
total discoveries.
The Gulf of Mexico Federal Offshore and Alaska, two
of the largest U.S. oil-producing areas, reported 10 and
7 percent declines in crude oil proved reserves.Downward revisions exceeded revision increases in these two areas in 2006.
Reserves additions of crude oil in the U.S. did not keep
pace with production. Operators replaced only 52 percent of 2006 crude oil production with reserves additions (Figure 15).

[Geomancer]

$this->bbcode_second_pass_quote('KillTheHumans', '')$this->bbcode_second_pass_quote('Geomancer', '
')
I believe that the major problem faced by Big Oil is not finding replacement oil but keeping the lid on world oil finds in order to maintain present exorbitant prices.

Just watch for the recent speculative oil price bubble created by Wall Street manipulators to pop in the near future.