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Episode #113 - Alex Krainer and the First Casualty in the New Oil War

Gold Goats 'n Guns Podcast

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The Proven Reserves Are a Hundred and Ten Billion Barrels a Year

The proven reserves were a hundred and ten billion barrels in 19 79, and by to day, they've extracted more than a hundred and 20 billion barrels. And even though they extract about three billion barrels a year, the number never goes down. It's like a magic coal, you know, inexhaustible, 260 billion barrels. So i think that the the objective of the whole exercise was media spin. Even at that, it backed fire already.

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