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Check out the book “Twilight in the Desert” by Matt Simmons, a now deceased energy trader. He makes the case that the oil is running out in SA as evidenced by t
by voisin 3y ago
Check out the book “Twilight in the Desert” by Matt Simmons, a now deceased energy trader. He makes the case that the oil is running out in SA as evidenced by their lead in patents for ever more challenging methods of extracting oil (presumably unnecessary if their oil was so readily available). Also, the nature of OPEC is that quotas are set on reported reserves which have no third party validation. And lastly, ever since the western countries handed back oil production to SA, they have reliably been finding more and more oil every year (pumping up those reported reserves) than the western countries were ever able to find (and presumably they were quite motivated).
- Arnt 3y agoMaybe. But they have a couple of extreme oil fields. A relative in the oil industry once told me that any extra oil you can get out of an existing rig is cheaper than setting up a new rig somewhere new, no matter how much you have to invest to get at the extra oil.