Forum Archive Index - September 2000

[Michael Gore <michgore@i4free.co.nz>]

Hi Everyone,
When I was a kid at school in the seventies, I took part in a classroom
project on oil.  I remember at the time a lot of talk about oil
resources being finite and would one day run out.  I recall the year
2010 being mentioned as the approximate year that this might happen.  Of
course at the time that seemed like several lifetimes away.  Well surely
it's true isn't it that oil resources are finite and will one day run
out?  I've been thinking over the last few weeks that it is surprising
given all the attention to oil prices that I haven't seen or heard
anything in the mainstream media concerning when this might occur.  Is
the price of oil rising simply because OPEC nations won't increase
output?  Is it possible that current high oil prices might never drop?
This surely would have huge implications for share prices.  Has anyone
in this forum seen some sensible estimates of remaining oil resources
and likelihood of future significant discoveries?  I haven't been
following energy shares but haven't they been rising as oil prices
rise?  Maybe they should be falling.  Well I admit I don't know too much
about it, just curious.      michael


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