Rethinking Global Oil Reserves by Michael Z. Williamson
Ah, oil. It’s close in everyone’s minds because we rely on it absolutely. It fuels our vehicles, some houses, provides lubricants, is used for all our plastics and in many industrial applications. The first major factor in the chain is surveying and drilling of crude. As recently made the news, a massive reserve in the Gulf of Mexico has increased our domestic supply by 50%. There are also newer technologies coming on board for extracting oil from tougher resources (Shales, sands, deep wells, from under permafrost) and also manufacturing oil from organic waste, in a process called Thermodepolymerization (TDP). The …