Post #5409 by Aussi on the Berkshire Hathaway board

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Hollub said that from the mid-1950s to the late 1970s, oil companies were finding around five times as much oil as was used, a ratio that has steadily declined to about 25% in 2023.

The current world oil reserve is 50 plus years of current production. To me there seems no need to find more oil. Produce existing reserves, yes, finding new oil, better to send the money to the stock holders.

Craig

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