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Comment OPECs reserves are all overexaggerated (Score 2, Insightful) 640

I wonder what data they based their report on? I think it is widely understood that the OPEC countries are all overestimating their oil reserves. You see, their quotas are proportional to their reserves. The larger their reserve, the bigger their quota, the more oil they are allowed to sell, the more money they make. So they have a strong incentive to lay claim to more oil than they actually have.

Also, did anyone notice the graph? Supply plateaus around 2030. Yet the demand curve goes straight up. Hello? Doesn't that mean oil will peak in 2030?! (And the graph even included alternative sources like liquid coal).

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