Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, January 4, 2013

How Accurate are Long-Term Government Oil Forecasts, Can we Trust them?

How Accurate are Long-Term Government Oil Forecasts, Can we Trust them?

[I]f you're still operating under the assumption that the earth's petroleum--or at least the cheap stuff--is about to run out, you're not going to thrive in the new oil era. Technology is making it possible to find, produce, and refine oil so efficiently that its supply, at least for practical purposes, is basically unlimited.--Businessweek, December 14, 1998The writer of the above sentences was reacting to oil prices hovering around $11 a barrel. He could not have known then that we were about to embark on a bull market that would take oil to…Read more...http://oilprice.com/Energy/Crude-Oil/How-Accurate-are-Long-Term-Government-Oil-Forecasts-Can-we-Trust-them.html

No comments:

Post a Comment