The Oil Drum: The ASPO Conference – Second Morning

The morning began with a Keynote address by Lord Oxburgh former non-executive chairman of Shell, who spoke on

The problems, however, are not that we are running out of oil, rather it is that we are running out of cheap oil. When oil fields are abandoned there may be 60% of the original oil (OOIP) that is left in the rock. At present this is just too expensive to extract, but it leaves us with a problem since most transportation requires a liquid fuel.

The Oil Drum