Worldwide Oil Reserves
Antagonist
posted by Jrudkis @ 9:01 PM
2 comments
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Monday, May 09, 2005
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2 Comments:
Do you know how the years of remaining reserves are calculated? Are they based on historical or current levels of production? What exactly constitutes "reserves?" Is this oil that has already been extracted, or is this oil that is supposedly in the ground?
"Reserves" means proven reserves that can be extracted economically. "Years reserves" is compared to their own use + exports.
I actually posted this here because I refer to it in other posts and needed to be able to cite to it.
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