Look at the term ‘resource.’ What is a resource?
One definition is that it is something with value greater than production cost.
Not all petro or bituminous material should be considered a resource in economic terms.
This is something that most overlook.
It’s not just how much oil is there.
It’s how much oil you can get before it’s cost kills it’s extraction. There will be a point that the energy you get out can’t be supported by the economy of the consumer.