Same old story. Same old BS. I've heard it for over ten years. 1. Oil companies have a variety of categories for reporting reserves. 15+ years ago companies us

Same old story. Same old BS. I've heard it for over ten years. 1. Oil companies have a variety of categories for reporting reserves. 15+ years ago companies used to regularly report liberal reserve numbers for the sake of stock price boosting. Since then the regulators have pushed companies to be conservative in their "findings". The historical shift makes it look worse than it is -which doesn't look bad to me (33 years of known resources is so much frikin oil).... There are so many companies sitting on thousands of drill opportunities and they simply don't have the upfront capital or even people to work on them. 2. Even if CONVENTIONAL Oil is harder to find there's plenty of Natural Gas and Non-Conventional resources to move towards without it being a big deal. This is how the market works - when the price of oil is too high due to supply constraints then technology/infrastructure will shift. This seems fairly normal to me - certainly not a panic situation. And quite frankly it's great for our economy to make these shifts - more jobs, new jobs. 3. > "Although there are large deposits of "unconventional" oil such as the Canadian tar sands, most are making only slow progress at development and consume as much or more energy in their production as they can generate." What a load of Malarky. There's absolutely no truth to this what so ever. Canadian Oil Sands are the most poorly understood commodity on the market. It doesn't consume more energy to produce - there's no substance in the article for me to even bother counter stating (and all the environmental concerns, relatively speaking, are just completely unfounded).