Oil reserves are just estimates. Nobody knows
for sure till AFTER the oil is pumped how much
there was. The system by it’s nature lends itself
to error, changes and fluctuations. I’m sure it
also lends itself to purposeful manipulation of
the information to allow involved parties economic
advantages. Humans are involved and humans tend
to be either incompetent, error prone or when it comes
to large sums of money greedy......greedy enough to
fabricate information.
“...Oil reserves are just estimates. Nobody knows
for sure till AFTER the oil is pumped how much
there was. The system by it’s nature lends itself
to error, changes and fluctuations....”
Amen, brother. I’m going thru a series of facility upgrades throughout south Texas right now. The facilities were built in 2010 based on just these types of estimates. Now, we’re finding out there is much more product than anyone ever estimated or dreamed of, and those original facilities are not large enough to handle the increase in volumes. Estimates are estimates...don’t bet the whole farm on them regardless of what business you’re in.