slew of reports have been populating my feed reader recently announcing the growth of OPEC oil reserves, first from Iraq, then Iran, and now Kuwait.
I pay attention to this stuff because peak oil is very much on my radar, and has been for about a decade now. It’s more than disheartening to see these reports presented to the public without any sort of context. Before everyone starts jumping for joy, there are a few things that need to be taken into account.
First, OPEC countries — which include Iraq, Iran and Kuwait — are on the honor system when it comes to reporting their reserves. There is no independent audit to confirm whether their reported reserves are accurate or not.
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