Earlier, I posted:
Reserves: I don't "believe" any of these numbers because I can't accept data for two or three countries, and I assume if those two or three are wrong, the rest are wrong. Link here. If nothing else, Libya is a non-factor in light of today's geo-political events:
In round numbers and rounded:
- Libya: 50
- US: 60
Does anyone really believe Libya is as "important" as the US when it comes to crude oil production?
Nearest 100:
- Libya: 100
- US: 100
- Russia: 100
Does anyone really believe Libya, US, and Russia co-equals when it comes too crude oil production?
The original Leigh Price paper regarding the Bakken:
- OOIP: 500 billion bbls crude oil
- 10% recovery: 50 billion bbls crude oil
- some suggest, Bakken primary production in North Dakota is trending toward 15%, previiously posted.
And, if one argues, natural gas is now more important than crude oil, that changes everything -- in the favor of the US.
