Oil plateaus | 159 comments (159 topical, editorial, 0 hidden)

Re: Oil plateaus (4.00 / 7)

Who can look at that chart and not see that they're cooking the numbers or playing with the ambiguity in the grammatical structure "to be found"? Namely, "this needs to be found" or "this is going to be found".

Are they forecasting or crying for help?

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Carrie (migeru at eurotrib dot com) on Tue Nov 9th, 2010 at 09:30:15 AM EST

Re: Oil plateaus (4.00 / 7)

Magic sparkly unicorn economics - we can't see it, we don't know where it is, but ~~god~~ the markets will provide it when we need it.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Nov 9th, 2010 at 10:09:16 AM EST
[ Parent ]

Re: Oil plateaus (4.00 / 2)

I think it's vampires that are the magic sparkly things these days.

by MarekNYC on Tue Nov 9th, 2010 at 10:15:00 AM EST
[ Parent ]

Re: Oil plateaus (none / 1)

Especially squid-shaped ones.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Nov 9th, 2010 at 10:45:57 AM EST
[ Parent ]

Re: Oil plateaus (4.00 / 7)

Reminds me of that joke where a long physics equation is interrupted by the step, "then a miracle occurs".

The comment being "you might have to explain that step in greater detail"

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Nov 9th, 2010 at 10:51:07 AM EST
[ Parent ]

Re: Oil plateaus (none / 0)

I have that cartoon on the walls of my cubicle. I also have a Wile E. Coyote...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Carrie (migeru at eurotrib dot com) on Wed Nov 10th, 2010 at 07:41:35 AM EST
[ Parent ]

Re: Oil plateaus (none / 1)

It is somewhat suspicious that those amounts to be developed or found just happen to provide a flat line graph of constant supply.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Tue Nov 9th, 2010 at 07:59:02 PM EST
[ Parent ]

What is even more alarming... (4.00 / 2)

...is that they don't even try to pretend that existing fields plus those in magic pony land add up to increased production. Which they would do if the data gave them the feeblest leg to stand on. They are probably showing the most favourable 97.5%-ile of the estimated distribution of outcomes.

I'd love to be a fly on their wall.

by PIGL (stevec@boreal.gmail@com) on Tue Nov 9th, 2010 at 11:24:15 PM EST
[ Parent ]

Re: Oil plateaus (4.00 / 3)

You can call it an honest mistake in that they didn't try to hide their tracks. Though maybe it's just a feeling of impunity.

Had they put the "to be developed or found" on the top of the other quantities it would have been difficult to realise that the amount was just so that the total amount of crude oil is a constant.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Carrie (migeru at eurotrib dot com) on Wed Nov 10th, 2010 at 04:05:27 AM EST
[ Parent ]

Oil plateaus | 159 comments (159 topical, 0 editorial, 0 hidden)

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