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Talk:Oil and gas reserves and resource quantification

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This is an old revision of this page, as edited by Guy WF Loftus (talk | contribs) at 08:41, 22 June 2022. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The article is a revision of the existing Wikipedia article on Oil reserves, which has been updated (2022) and simplified, but broadened to consolidate oil & gas reserves as well as resource estimates. A summary of other changes:

  • Country specific references have been removed, as well as maps and ranking tables, which by definition change (weekly) with changing circumstances (exceptions and ephemera create burdens and complexity)
  • sub headings Proven reserves, Unproven reserves, Strategic petroleum reserves and Estimation techniques are little changed from the original article, which will be merged with this draft to preserve the history
  • Redirects will include Oil Reserves, Gas reserves, Hydrocarbon reserves, Reserves accounting, Oil Resources, Gas resources, Hydrocarbon resources, Petroleum reserves, Petroleum resources

Carbon price?

The draft does not say whether reserves depend on the carbon price and I don't know the answer - would many people ask the question? Chidgk1 (talk) 14:22, 20 June 2022 (UTC)[reply]

Thanks for the challenge @Chidgk1:. I don't have an answer either but I like the way this is going. The answer may well be "No" and I think I know who would know. It may take a couple of weeks but I will try to get an answer for you.Guy WF Loftus (talk) 05:54, 21 June 2022 (UTC)[reply]
From what I can see, the answer is currently "No" - but SEC are ahead of the game here, as it appears they will bring offset disclosure rules into the reporting requirements - so if not mandating a carbon price, they will require disclosure along with greenhouse emissions metrics - have a look here <https://www.forbes.com/sites/taxnotes/2022/05/02/could-the-sec-climate-rule-help-carbon-taxation/?sh=55a8b55d3820> and let me know what you think.Guy WF Loftus (talk) 09:45, 21 June 2022 (UTC)[reply]
There is also some discussion on this in a paper I cited in the Draft article <https://www.sciencedirect.com/science/article/pii/S1045235418300467#f0005>. Guy WF Loftus (talk) 09:56, 21 June 2022 (UTC)[reply]
Thanks - the papers are a bit beyond my understanding - I'll leave it to you to explain in laymans terms in the article. Chidgk1 (talk) 05:59, 22 June 2022 (UTC)[reply]
@Chidgk1: - I'll do as you advise - perhaps another subsection on implications for reserves reporting during the energy transition.Guy WF Loftus (talk) 08:41, 22 June 2022 (UTC)[reply]

Price?

The lead says "Oil and gas reserves are sensitive to global market price" but the details are not explained in the body. For example are Russian gas reserves still calculated by the "global market price" (if that even exists) of gas despite their large discounts? Chidgk1 (talk) 14:27, 20 June 2022 (UTC)[reply]

Fair point - I have tried to remove exceptionalism by country to make the article more sustainable (country interests are ephemeral) but that doesn't explain the statement you challenge. Oil is a globally traded commodity, ergo it is sensitive to market price (truism?) but gas may have a domestic component (Domgas), so perhaps this needs qualification. I'll put this to the panel.Guy WF Loftus (talk) 05:54, 21 June 2022 (UTC)[reply]
The panel? As I don't understand economics I have tried getting help from Wikipedia:WikiProject_Economics for various articles in the past but without much response. Wikipedia_talk:WikiProject_Finance_&_Investment might be worth a try. Chidgk1 (talk) 06:03, 22 June 2022 (UTC)[reply]
It is hard to know when to stop providing education to aid illumination. I think the lead paragraph should be the direct response to the Wikipedia searchers' enquiry - the subsections go a bit deeper, whilst providing the links for searchers' own education (we can't give lessons in economics but if we apply economic terms, we should at least tell people where to go with hyperlinks). On "the panel", in the Oil reserves talk page, I mentioned putting together a panel to assist in the updating of this article. I am, like you, just a wiki editor but with a real identity which is searchable and accountable - as far as reserves are concerned, I am an adequate practitioner of reserves reporting but like you, I am not an expert. So I assembled a panel of 10 industry, technical and academic experts to advise me in my role as moderator for the topic. I felt it was the best way resolve the content issues facing this article. Wikipedia are perfectly happy with the article as it is - but they don't have the content knowledge to verify the integrity of the article, relying on incremental shakedown to stabilise content. That normal process will resume if we merge the two articles in 2 weeks or so - if this discussion proves that we are on the wrong track, then we will leave the article as it is and close down this draft. Your @Chidgk1: continued contributions and those of other contributors will aid that process.Guy WF Loftus (talk) 08:41, 22 June 2022 (UTC)[reply]
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