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Discoveries in the southeast region of Mexico particularly excite U.S. oilmen. The country has recently revised its estimates of proven reserves* from 14 billion bbl. to 20 billion bbl., which would put it in a league with Venezuela, and officials are happily suggesting that the total may be as high as 200 billion bbl. If so, that would put Mexico in a class with the present leading oil country, Saudi Arabia, which has proven reserves in the area of 180 billion bbl...
Among the energy optimists, the rosiest view is offered by Dutch Economist Peter Odell, who has concluded that world oil reserves, including deposits in deep sea areas and the polar regions, stand at 4,500 billion bbl., or seven times current proven reserves. That is also well above the Rand Corp.'s estimate, which puts the reserves within a range of 1,700 billion bbl. to 2,300 billion bbl. Odell argues that the size of some known fields has been greatly underrated, notably the North Sea and Orinoco Oil Belt, whose resources he believes are even "greater than...
Another oil optimist, Bernardo Grossling, a researcher with the U.S. Geological Survey, puts the range of recoverable oil at anywhere from 2,500 billion bbl. to 6,000 billion bbl. His argument: the potential of countries in Asia, Africa and Latin America is "staggering...
...like nothing better than to regale skeptics with their accomplishments. Clarence Hollett of Willow Shade, Ky., styles himself as "the Mr. Doodlebug." In the dowser lexicon, doodlebugs are a special breed - diviners for oil. Hollett, a rotund, barrel-chested man, says he has found wells that produce 1 ,000 bbl. a day and, if only he hadn't been swindled by so-called friends, he might be a millionaire. He also dabbles in healing and dowses for gold. "Don't believe me?" he asks, and promptly borrows a gold ring from a cynical listener. Hollett's divining...
...congressional budget office estimates an additional .7 to .8 trillion cu.ft. a year; consumer groups that favored the bill say no increase at all will occur. Both the Senate Energy Committee and DOE predict that by 1985 greater production of natural gas will save the nation 1.4 million bbl. a day in imported oil. Consumer groups deny there will be any such saving. Much depends, of course, on how innumerable lawyers interpret a bill that even they have trouble understanding. But at least, after 18 months, the Senate finally voted on a national plan to conserve energy...