Tuesday, February 24, 2004
More on Oil Production
Bob Morris, in his blog "Politics in the Zeros" writes:
Myself, I'd still like a better understanding of Energy Analyst's reasoning about the interaction of technology and macroeconomics.
If the oil is much harder to get, won't it then be much more expensive? I'm a little leery of someone, who faced with a shortage, simply redefines the terms so there's magically more of it.Energy Analyst called and pointed out that maybe one reason for Bob Morris' reaction is that my editing shortened his second bullet point. It is a valid comment, so here's his whole second bullet as originally written:
- However, the history of the oil business has been to change the definition of 'conventionally defined' as new technical capabilities combined with macro-economics rebalance the supply/demand equation.
Myself, I'd still like a better understanding of Energy Analyst's reasoning about the interaction of technology and macroeconomics.
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