[Eco] Recycling and P&T's Bullshit

[John W. Cooper]

On Jan 31, 2007, at 13:34, Christopher Hickman wrote:

> On Wednesday, January 31, 2007, at 01:24PM, "Jonathan Grabert" 
> <jonathang at austin.rr.com> wrote:
>> Keep in mind that, when adjusted for inflation, the price of oil has 
>> gone
>> DOWN, not up.  That's hardly indicitive of a lack of supply.
>
> And that's despite OPEC's production restrictions to artificially 
> reduce supply.

"The OPEC countries decided in 1985 to link their production quotas to 
their reserves. What then seemed wise provoked important increases of 
the estimates; in order to increase their production rights. This also 
permits the obtainment of bigger loans at lesser interest rates. This 
is a suspected reason for the reserves rise of Iraq in 1983, then at 
war with Iran.

In fact, Dr. Ali Samsam Bakhtiari, a former senior executive of the 
National Iranian Oil Company, has stated unequivocally that OPEC's oil 
reserves (notably Iran's) are grossly overstated. In a recent interview 
[4] he stated that world oil production is now at its peak and 
predicted that it will fall 32% by 2020."

<http://en.wikipedia.org/wiki/Oil_supply>

:-j