reserves replacement ratio in a marginal oil world: adequate ...
reserves replacement ratio in a marginal oil world: adequate ...
reserves replacement ratio in a marginal oil world: adequate ...
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CONTENTSExecutive summary 4Reserves Replacement Ratio <strong>in</strong> a marg<strong>in</strong>al <strong>oil</strong> <strong>world</strong>: <strong>adequate</strong> <strong>in</strong>dicator or subprime statistic? 6The <strong>reserves</strong> <strong>replacement</strong> challenge 6Ris<strong>in</strong>g costs, ris<strong>in</strong>g risks 7Canadian tar sands 9Ultra-deepwater 10Offshore Arctic 11Reserves data opacity 12Profits without <strong>reserves</strong>: what then? 12Spreadsheet m<strong>in</strong>utiae versus the big picture 15Conclusion 16Endnotes 17Appendix: Analysis of <strong>reserves</strong> additions for the top six IOCs 2005–09 18Appendix endnotes 24Icebergs create huge logistical problems for <strong>oil</strong> companies drill<strong>in</strong>g <strong>in</strong> the Arctic:they either have to be dragged out of the way of drill<strong>in</strong>g areas or destroyed with hoses. ©ROSE/GREENPEACEWritten by Lorne Stockman, Research Director, Oil Change International. lorne@priceof<strong>oil</strong>.orgReserves additions research by the Borealis Centre. www.borealiscentre.org
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