Economy 52,862 Posted June 6, 2015 Share Posted June 6, 2015 http://resourceinsights.blogspot.ca/2012/09/has-opec-misled-us-about-size-of-its.html Recently a commentator on TV was bringing out past information we already knew but have all seemed to of forgotten. You can read about such info in the link above. In the 1980s, OPEC decided its production quota would be divided up by Country based on reserves. In other words the higher the share a Country had of OPECs reserves, the more they ere allowed to produce. Miraculously (and perhaps not surprisingly) very shortly after that agreement a bounch of OPEC Countries started raising their official reserves by rediculous numbers in a single year without any explanaton of where those new reserves came from Additonally, unlike in other Countries, OPEC members do not allow for international agencies to audit and survey their land and come up with official estimates. They simply self-report their estimates and expect everyone else including fellow OPEC members to believe them Lastly, after huge surges in estimates, theres no revisions... The UAE for example has been reporting the same 98 Billion barrels of reserves since 1997 even though they have produced billions of barrels since then. Why are numbers not subtracted? have they coincidentally EVERY YEAR always found additional fields that are in size the EXACT same amount to what they produce each year? Not likely! Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted June 7, 2015 Share Posted June 7, 2015 Because they have .000005 % exports other than oil.... like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,862 Posted June 7, 2015 Author Share Posted June 7, 2015 Because they have .000005 % exports other than oil.... This makes my Country the only Country in the world with very large recoverable reserves that are actually based on reliable information and inspection and not just based on taking the word of some flop Country with political agendas wed so rule the energy world in a few decades (especiously with our recoverable reserves set to double again i. A few years with technologies under development) if it wasnt for... ... If it wasnt for Murica collapsing oil prices with that shale revolution and making expensive oil sands virtually unprofitable. All ur fault #BlameMurica Link to post Share on other sites More sharing options...
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