RE: Exxon's new reserves

> -----Original Message-----
> From: asa-owner@lists.calvin.edu
> [mailto:asa-owner@lists.calvin.edu] On Behalf Of Sarah Berel-Harrop
> Sent: Tuesday, February 22, 2005 7:28 PM
> To: asa@calvin.edu
> Subject: Re: Exxon's new reserves
>
> I mentioned this to a gentleman in my office, and he noted
> that a significant portion are purchased reserves. I don't
> know where he got that information, but if true, those
> reserves that were purchased don't represent a net
> increase to world oil supply. Maybe a trivial point, but.

I am not sure I would agree with that assessment of Exxon, however, your
point is not trivial at all. When companies merge or buy reserves, they
do not add to the world oil supply. Much reserve growth in many
companies are purchased and that means we are appearing to solve the
reserves growth problem without actually solving it.
Received on Tue Feb 22 20:54:55 2005