Two more charts

Via: http://petrole.blog.lemonde.fr/2013/02/13/la-production-de-petrole-total-decline-pour-la-8e-annee-consecutive/#more-7090

Yep, they all learned that they can reduce production and prices will rise and yet we'll still buy the same amounts at higher profits for them.. Don't blame the companies, blame the idiots who still buy oil/gas at retarded prices!

Comment is just plain stupid. As all companies and govements make enourmous work to increase, or, at least, keep production at current level. This is that this charts are about. They are about simple fact that it is harder to do each day.

I think the next 11th September will be prepared at present by the CIA - it must be secured the oil fields, everywhere

LOL. It won't help. All easy to get oil fields are know for quite a time. Living in the world full of billions who do not have enough food (as modern food production became possible because of plenty of cheap energy) and can do anything for it won't be easy.

@svart

It is strange comment. In fact your first chart show that Saudy Arabia and some other countries reserves behave erratic, and it is not that they understate them, quite reverse.

most oil speculators will agree that this is to make it seem more rare than it is to keep prices artificially higher, thus more profit.

Interesting view. So, they specially reduce output and in the same time US and SA increase drilling machines working on oil fields. And US starts working on tight oil places just for fun?

Or this page which breaks down the profit increases while production decreases: http://thinkprogress.org/climate/2012/02/08/421061/big-oil-higher-prices-record-profits-less-oil/?mobile=nc

This page is from quite specific site. Repurchase stock at good levels is nothing new or magical. But requires view on full companies reports.

With oil sands, coal-to-oil, technical ability to change previously unusable oils into usable oil as well as new deep water drilling technology, the projected oil reserves are going higher and higher every year. Now that the USA has the largest verified oil reserves, all as noted in this link:

You can just check post about USA Oil :-) I made one not long ago. Issue with all this is many of reserves are potential (you can't get them with current technology) and all else have terrible EROI.

Quality of Human resource is the most common indicator of good currency. Even genetics plays important role in current state of exchange. Its wired but true.

Don't you think it is lot of logical contradictions here?

First, genetics play very small role if you talk about brain development - learning process and external environment (including people around) play almost exclusive role.

Second, "quality of human resource" is something fuzzy and abstract. Five homeless professors are better than one stupid worker pressing 3 buttons on robot factory, or it is reverse?

about professos it should be reverse. But it is not.

What if this exact five professors are the guys who developed and help build this line? But after company realized how effective it is they just fired them and pushed on streets?