Maybe our fine public servants, before they lease out every acre of land, (besides Kudlows back yard that is,) for oil wells, maybe they will get a better deal for the nation’s natural resources on the lease price.
*slim, fat, and no
Does disclosure of information regarding changes in proved and probable reserves matter? Yes, since proved and probable reserves jointly explain market returns, they are value relevant to the market. The definition of proven reserves inherently implies a past and present looking perspective on the value of oil and gas firms because reserves must be recoverable with certainty at a given date. Hence, reporting proven reserves by itself, as required by the SEC, gives only past and present information on reserves that markets can use in valuing an oil company.
Now you know why Kudlow wants to drill drill drill? It is for the balance sheet of oil companies, which makes their stock price rise. Grasp this and you can figure out what shale and other probable reserves are doing to oil company “assets” if they can be moved into proven reserves.
The United States still cannot refine anymore crude oil stocks than it already is, and increasing the supply of the stock only improves the stock traders and speculators profits on their stock trades.
This used to be called a scam.