I believe this discussion has been hashed out pretty well on FR. It is simply that I have gotten to the point that I question any data provided by the oil industry. Call me a skeptic but after the past couple of years I think lying may well be SOP for the oil business.
Skepticism is healthy. Fine.
But think about this:
If you are in the business of selling dirt and you sell a million dollars of dirt every year and your profit margin is 10% then you make 100,000 dollars. If the price of world dirt doubles because of strong demand and your sales double because of the price your profit will also double if you maintain your profit margin. Why do you think the oil business is any different?