PEAK OIL

#3 What Types of Resources are there?
- Resources are the total quantity of oil still available, regardless of whether it has
been discovered or not and of whether it is recoverable or not.
- Recoverable resources are the share of oil that is considered recoverable. The
quantity depends on
1) the price of oil. It is not profitable to recover oil if the price of recovery is higher
than the selling price. An increase in the price of oil, however, can make it
economically profitable to recover resources that have hitherto been regarded
as unprofitable, thus increasing the resources recoverable at market prices.
2) the state of exploration and recovery technologies.
Figure 11: Ultimately Recoverable Reserves
Figure 11 – Glossary
Noch zu Entdecken yet-to-find
Reserven reserves
Kumulative Produktion cumulative production
Maximal Förderbar ultimately recoverable
Source: www.wolfatthedoor.org.uk/deutsch
- Reserves are recoverable resources that have already been discovered but have so
far remained untouched.
- Yet-to-find reserves are recoverable resources that have not yet been discovered.
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