Peak Oil News

Wednesday, March 24, 2004

Guardian Unlimited | Special reports | SEC under attack over Shell: "A leading investment bank has come to the support of Shell and accused the US securities & exchange commission of using 'outdated' standards to assess oil and gas company reserves.
Deutsche Bank said the entire energy sector could find it harder to raise cash in future because of over-conservative policies being applied by the US regulators."

Some folks have suggested "peak oil" is a false issue raised by oil companies to justify raising the cost of crude oil. This article reveals reasons why oil companies are incented to inflate, not deflate their reserves.


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