How Much Is Left? How Valid Are Predictions about Future Production?
–> Start | Author Index 3-1 Michel T. Halbouty Distinguished Lecturer: World Fossil Fuel Resources: How Much Is Left? How Valid Are Predictions about Future Production? Monday, 6 October 2008: 8:05 AM George R. Brown Convention Center, Ballroom C Peter McCabe, Petroleum Resources Division, CSIRO, North Ryde, NSW, Australia Resource assessments for geologic commodities are not absolute measurements. They represent judgments of the amount of available resource within the foreseeable future. With advances in geologic knowledge, technological advancements, and changing commodity prices and production costs, it is necessary to periodically reassess resources. Assessments of conventional oil and natural gas have tended to increase the resource base. Assessments of coal and unconventional oil and gas resources have historically tended to overestimate the resource base either because of unrealistic economic considerations or because the geologic nature of the resource was poorly understood. H
