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Commodities Briefing - Categorized | Oil, Resources more

Is Iraq capable of becoming the largest oil producer in the world

Posted on 03 June 2013

There is often quite a debate in the Peak Oil community over the difference between a reserve and a resource. Simplistically a resource is the amount of, for the sake of discussion, oil that is in the ground in a certain country, while the reserve is the amount of oil that can be both technically and economically recovered from that resource.
The numbers can differ quite markedly, and the judgment as to whether a certain body is a reserve is finally made when a well is drilled down, and production (or not) begins………………………………………..Full Article: Source


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VRS - who has written 41298 posts on Opalesque Commodities Briefing.


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