The Smart Car

Ernie Lane ernielane at VERIZON.NET
Wed Aug 20 10:07:31 MDT 2008


JD wrote:
> 
> 
> 
>     And remember, these estimates -- how much oil is in the ground --
>     are always eventually found to be ridiculously wrong, and alway on
>     the short side.  That is, there is _always_ more oil there than we
>     think.  There is no reason to think it's any different now.
> 
> 
> 
> 
> I was in the oil exploration business for years and I'll have to 
> respectfully disagree with the "always on the short side" part.

I'm not talking about individual wells, but estimates on a larger scale: 
  an entire field or so.  Obviously, when it comes to individual wells, 
the dry holes wouldn't have been drilled unless there was some sort of 
expectation of oil being down there.



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