 |
|
|
Which also means they have WMDs, yes they got to have.... 
|
|
|
|
|
They can deploy Skippy in 45 minutes.
|
|
|
|
|
|
Wicked and awesome.
"Bastards encourage idiots to use Oracle Forms, Web Forms, Access and a number of other dinky web publishing tolls.", Mycroft Holmes[ ^]
|
|
|
|
|
Article: ranging from 3.5 billion to 233 billion barrels of oil.
WHAT?! If I made estimates like that, people would call me an idiot. What's the point of an estimate if the upper bound is 6657% larger than the lower limit...? 
The United States invariably does the right thing, after having exhausted every other alternative. -Winston Churchill
America is the only country that went from barbarism to decadence without civilization in between. -Oscar Wilde
Wow, even the French showed a little more spine than that before they got their sh*t pushed in.[^] -Colin Mullikin
|
|
|
|
|
|
I'm not saying I could do better, but then again, I'm not a mechanical engineer/geologist as I assume the people that make these estimates are.
I know a guy that works for Exxon that does a similar job. He uses all kinds of crazy math and computer magic (assumption on my part) to determine the best way to maximize oil recovery from a field.
The United States invariably does the right thing, after having exhausted every other alternative. -Winston Churchill
America is the only country that went from barbarism to decadence without civilization in between. -Oscar Wilde
Wow, even the French showed a little more spine than that before they got their sh*t pushed in.[^] -Colin Mullikin
|
|
|
|
|
|
|
|
I've emailed you a joke. 
"Real men drive manual transmission" - Rajesh.
|
|
|
|
|
|
It's a ballpark estimate. It's just that the ballpark is really, really big.
BDF
I often make very large prints from unexposed film, and every one of them turns out to be a picture of myself as I once dreamed I would be.
-- BillWoodruff
|
|
|
|
|
or really small.
Nihil obstat
|
|
|
|
|
Big Daddy Farang wrote: ballpark
A word used by numpties during corporate meetings. When they say it, I'd like to imagine that a ballpark size of their brain equals to a peanut. 
"Real men drive manual transmission" - Rajesh.
|
|
|
|
|
Colin Mullikin wrote: WHAT?! If I made estimates like that, people would call me an idiot. What's the
point of an estimate if the upper bound is 6657% larger than the lower limit...?
I am guessing that you have never attended a sales/marketing presentation?
|
|
|
|
|
Thankfully, no.
The United States invariably does the right thing, after having exhausted every other alternative. -Winston Churchill
America is the only country that went from barbarism to decadence without civilization in between. -Oscar Wilde
Wow, even the French showed a little more spine than that before they got their sh*t pushed in.[^] -Colin Mullikin
|
|
|
|
|
I dare you to!
"Real men drive manual transmission" - Rajesh.
|
|
|
|
|
It's known as the Facebook IPO calculation.
|
|
|
|
|
I suspect that the author just picked some numbers out of some press release or something without having any idea what they mean. Reserve estimates have fairly well defined classifications and they mentioned no classifications at all in the article.
Basically there are estimates of hydrocarbons (HC) in place, as well as proved, developed, undeveloped, unproved, possible and probable reserve categories. The difference is whether one thinks there is a 10% chance of producing them and not a lot of corroborating information (a very high number!) or a 90% chance of producing them and a lot more information (a much more conservative estimate). Since many rock properties (i.e. permeability, fracture intensity) tend to have a log-normal distribution, there can be very long tails on the distribution of reserve estimates when properties are uncertain. For log-normal distributions it is fairly common to have a standard deviation that is larger than the mean value.
You can rest assured that the author of that article had no idea what parameters were being used or what they meant, or they would have mentioned them. However, it's much easier to baffle with bullsh*t rather than understand things.
CQ de W5ALT
Walt Fair, Jr., P. E.
Comport Computing
Specializing in Technical Engineering Software
|
|
|
|
|
Do the Chinese own any of Australia's debts? If so, Australia might never see any of this.
|
|
|
|
|
Might note that relying only on one company which sites their own estimates of their own resources can be a bit problematic.
|
|
|
|
|
Oil in place is not the problem. The US has enormous oil in place resources, as do most other countries. The problem is purely economic: getting it out at costs that people will pay, with environmental impact that people are willing to live with.
That appears to be one of those articles written by writers who know nothing about the subject they write about and are trying to make common knowledge seem exciting.
CQ de W5ALT
Walt Fair, Jr., P. E.
Comport Computing
Specializing in Technical Engineering Software
|
|
|
|
|
Big oil reserves leads to deindustrialization. For example, parts of Canada and most of Russia.
There is only one Vera Farmiga and Salma Hayek is her prophet!
Advertise here – minimum three posts per day are guaranteed.
|
|
|
|
|
General 
News 
Suggestion 
Question 
Bug 
Answer 
Joke 
Rant 
Admin 
Submit an article or tip
Post your Blog
