Posted by LAA on May 18, 2011 at 08:48:23 from (86.51.147.113):
In Reply to: O/T Oil/Gas posted by jhilyer on May 18, 2011 at 06:36:28:
Normally speaking, crude oil reserves refer to proven, recoverable but undrilled and unproduced product, not actually what is in refineries, on tankers, in the pipleine system enroute etc. That amount is usually referred to as supply. As far as reserves go, I have been in the business since 1973 and the worldwide proven reserves of both oil and gas have increased every year, not decreased as many gov't officials and environmentalists would like everyone to believe. The reason for the increse of recoverable reserves is advancements in exploration, drilling and production/reservoir enhancing technology, same as a silicon chip of today storing the information that it took a cray computer of the 60's or 70's to process. The USA could easily become the heavy manufacturing powerhouse that it was in the 50's and 60's and pay good wages if we got serious about developing our nat. gas and oil resources within the lower 48. China and Japan run sweat shops and pay slave wages but they are both nearly absolutely dependent on imported energy, we don't have to be, cheap energy will always trump cheap labor.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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