Prof. Hamilton on Oil Shale
Steve Verdon
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Monday, October 3, 2005
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1 comment
Prof. Hamilton has a thoughtful post on the use of oil shale as an alternative to oil. The bottom line is that oil shale is indeed one possible alternative to oil, but that it isn’t a particularly attractive alternative. I highly recomend reading the whole thing.
About Steve Verdon
Steve has a B.A. in Economics from the University of California, Los Angeles and attended graduate school at The George Washington University, leaving school shortly before staring work on his dissertation when his first child was born. He works in the energy industry and prior to that worked at the Bureau of Labor Statistics in the Division of Price Index and Number Research. He joined the staff at OTB in November 2004.
Steve:
I think Prof. Hamilton’s statement on Saudi Oil Reserves may be a bit misleading. I don’t know what the Saudi Oil Reserves are, but at the meeting in Johannesburg last week, Ray Tillerman, Pres of Exxon/Mobil was quoted that ” Oil reserves are 3 trillion Barrels” while there are 7 trillion barrels yet to be discovered.
It looks to me like Prof. Hamilton was promoting the Oil Shale thing and was not up front about all the Oil Reserves.