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Oil Reserve Estimates Questioned by Industry and Government
An industry insider notes that U.S. oil reserve estimates rely on company data and profit goals, with no independent federal tally. Government and industry sources depend on API and AGA figures, the 36.3 billion barrels proved oil, 6.8 billion barrels NGL, and 266.1 TCF gas estimates, all contingent on current prices and production.
MENTIONED IN THIS ARTICLE
Ashington
U.S
William E. Simon
Federal Energy Office
Federal
Census Bureau
U.S. Bureau of Mines
Bureau