By George Orwel
I loved Mr. Orwel's e-book "Black Gold." It used to be effortless to learn and it had a number of issues within the publication that i did not comprehend. Like President Clinton's Iraq Liberation Act of 1998, which said that, "It will likely be the coverage of the us to help efforts to take away the regime headed through Saddam Hussein from strength in Iraq." This booklet is mild studying. do not anticipate finding loads of deep inspiration. it is similar to a protracted newspaper article. i do not remorse i purchased the ebook. Regards, Keith Renick, Saudi Aramco Oil Co. Retired
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Extra info for Black Gold: The New Frontier in Oil for Investors
Government report on oil shale and unconventional oil supplies that seems to indicate concern among some government ofﬁcials. The Guardian story quoted the report: World oil reserves are being depleted three times as fast as they are being discovered. Oil is being produced from past discoveries, but the reserves are not being fully replaced. Remaining oil reserves of individual oil companies must continue to shrink. The disparity between increasing production and declining discoveries can only have one outcome: a practical supply limit will be reached and future supply to meet conventional oil demand will not be available.
Those who have tried to understand the processes involved in determining, indeed predicting an oil peak, know just how scientiﬁc it is. Hubbert used a great deal of intricate mathematical formulae, which no one understood at the time and economists have struggled to disprove, not so much with any new scientiﬁc evidence as by arguing that rising demand would prompt scientists to come up with new technologies that would get more oil. That’s hardly a thoughtful approach; it’s more like relying on hope.
5 The article touched off a huge debate in the oil industry because Campbell and Laherrère are both highly respected geologists and have worked for major oil companies in senior 22 THE END OF OIL production positions. More recently, Kenneth S. Deffeyes, a Princeton geologist who worked at Shell with Hubbert and later became a disciple of the man who has become the patron saint of “global peak oil” proponents, joined the debate as a pessimist. A few years ago, these followers of Hubbert did what has become common in our troubled world.
Black Gold: The New Frontier in Oil for Investors by George Orwel