Outrun Change

We need to learn quickly to keep up with the massive change around us so we don't get run over. We need to outrun change.

Graph of the certainty level of estimates for oil and gas reserves

Million Dollar Way pointed me to a great visual illustration of this idea, explained by the US EIA:

For many purposes, oil and natural gas resources are usefully classified into four categories:

  • Remaining oil and gas in-place (original oil and gas in-place minus cumulative production at a specific date)
  • Technically recoverable resources
  • Economically recoverable resources
  • Proved reserves

Check out this illustration, which is obviously not to scale:

reserves illustration

Illustration tells the story better than my words could.

Source: U.S. Energy Information Administration Oil and natural gas resource categories reflect varying degrees of certainty.

 

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