Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
INCOMPLETE. Now go ask your boss if he could make money on your definition. Mind the shotgun.
Or let's ask OPEC.
"an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions"
Note especially the impact of price.
Oil that was unrecoverable at $10 a barrel is likely to be recoverable at $100/barrel. So taht estimate in AK about proven reserves -- what was the price of oil and what was the revovery technology at the time of that estimate? Has it been updated?
Bozonst, I am giving you the legal definition of "proven reserves", something which claimed has legal and tax implications. If you want to go mentally jerk off with the term like you usually do, have at it.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address