Climate Quote by Daniel Yergin
“According to one study by the United States Geological survey, 86 percent of oil reserves in the United States are the result not of what is estimated at the time of discovery but of the revisions and additions that come with further development.”
About This Quote
Source Book: The Prize: The Epic Quest for Oil, Money & Power, 1990
Oil estimates grow mainly through later revisions, not initial discoveries.
In simple terms: Oil reserves increase after further study.
Key Takeaway
Expect later revisions to raise estimates.
Themes
energy
economics
resource management
uncertainty
Mood
analytical
cautious
Type
informative
critical
When to use this quote
- energy policy
- investment decisions
- government reporting
Key Concepts
geology
risk analysis
forecasting
Questions to Reflect On
- How reliable are early resource forecasts?
- What factors cause reserve revisions?
A Different Perspective
Initial estimates may be misleading without context.
