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Why may the statistics on the known reserves of a natural resources provide a misleading picture of how much of that resource there is in the ground?
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Why can in-place fossil fuel resource statistics be misleading?
You have asked a good question. The public may be mislead because they do not understand the definitions of resource estimates and reserve estimates. There is also confusion or misleading statements when reserve estimates are cited. Government agencies have helped in many countries to regulate reserves estimates of large oil companies in their financial statements.Fossil fuels include oil, natural gas and coal. The quantity which can be commercially produced or mined may be significantly below the volumes estimated to be in place.When oil and natural gas are first discovered, the company responsible for the discovery may develop estimates of the total volume discovered. These estimates are correctly called a "resource estimate."As more information is obtained on a particular field and plans are made to develop the field commercially, the company will generally estimate the quantity of hydrocarbons which can be produced and sold. This is called reserves. A large field, may contain millions of barrels in terms of resources, but the reserves can be zero, because of the development cost is too high.I have included two links, and you can find many more. In the Wikipedia webpage, you will see the following: "Although the IEA insists on Canada's Reserves as being listed as 178 billion barrels, many experts[citation needed] estimate it to actually be between 1 and 3 Trillion barrels. " Unfortunately, this is an example of a misleading statement of reserves. If you do a Google search for Canadian reserves, you will not find estimates of this magnitude as proved reserves.You may want to study Canadian reserves more closely, to find more examples of misleading reserves/ resource estimates.This is a quote from Sadad I. Al Husseini, former VP of Aramco, October 2007."World reserves are confused and in fact inflated. Many of the so-called reserves are in fact resources. They're not delineated, they're not accessible, they're not available for production."See attached links.
Contrast a mineral resource and a mineral reserve?
I suggest resource goes further back than reserve. For example you might say uranium is a resource-we know how to use it to get energy. But it only becomes a reserve when we actually have a supply of it available, in reserve. Similarly coal is a resource, but you can only call it a reserve when you know where to go to get it, and that there are no political or logistic reasons whereby you cannot get access to it. Actually a resource is something that is valuable to mankind. A reserve is a resource that is economically and technologically viable to be mined or obtained.
What are proven-in-place reserves?
Proven-in-place reserves is generally a small fraction of a total resource.
How do you deliver goods to your ally in Age of Empires 3 skirmish?
At the bottom left corner where you have your resource statistics, click it, letting you add resources to send :)
What is Russia's leading energy resource?
natural gas reserves
How does statistics help a hr manager?
How does Statistics help a Human Resource Manager
What are some natural resource's in Mississippi?
It's resources, not resource's, as the resources do not own anything.
Difference between resource allocation and resource utilization?
Resource allocation refers to setting aside resources. Resource utilization refers to how resources are used.
Proven reserves of a mineral or fossil fuel resource are?
mapped and recoverable
Does resource have a plural?
Yes. The plural of resource is resources.
What is the meaning of biotic resources?
A biotic resource is a living resource. Example: Animals, plants, etc.
What has the author Donley M Hill written?
Donley M. Hill has written: 'The fishery resource of Tennessee Valley tailwaters--Cherokee' -- subject(s): Statistics, Fishes, Fishery resources
