11 August, 2005

NOPEC redux

Some Congresscritter needs to read this.
JIM:   It’s incredible, because every energy supply model starts with the assumption that Saudi oil is plentiful. It’s inexpensive to produce and supply can expand to meet demand. I mean, whether you’re looking at the IEA or the USGS, that’s not necessarily the case.

MATT:  Yes. What’s interesting is that we’ve based all of this assumption on no data.

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