Reserve growth effects on estimates of oil and natural gas resources

James W. Schmoker

doi:10.3133/fs11900

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Reserve growth effects on estimates of oil and natural gas resources

James W. Schmoker

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Abstract

Many scientists think that the supply of economically recoverable oil and natural gas is geologically limited. However, as recently as early 1999, we experienced a glut of oil on the world market and the lowest inflation-adjusted price of gasoline in history. What is going on? While we cannot provide a comprehensive answer to that question here, we can describe one process that significantly affects the domestic oil and gas industry, a process that also will affect the global industry at some point—reserve growth (also known as field growth).

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James W. Schmoker. 2000. Reserve growth effects on estimates of oil and natural gas resources. https://doi.org/10.3133/fs11900

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