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To: thackney

Okay, more correctly, the rate of use is slowly increasing(very slowly by historical measures). At the same time, proven reserves in the US continue to increase (yes, I know pricing is a factor) but the fact still remains that this market is whacked, and IMO, manipulated.


8 posted on 04/14/2014 12:00:31 PM PDT by Obadiah (I like Krabby Patties.)
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To: Obadiah

Reserves are not production. Oil still in the ground won’t make gasoline in my tank.

Reserves are up, because prices are up. Oil that wasn’t economic to produce at lower prices gets counted in proved reserves with higher prices. When prices fall, the same reserves will not be counted and the total will go back down (if nothing else changes).


9 posted on 04/14/2014 12:02:51 PM PDT by thackney (life is fragile, handle with prayer)
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