Quote:
Originally Posted by Frank Lee
I've never liked that word "production" as it is used regarding oil. Oil isn't being produced, it's being extracted and along with it, the supply reduced.
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It involves effort, equipment, expertise and capitalization to extract it, which is why it is a "production". Getting oil from shale is even more of a production.
Speaking of less than appropriate terminology - it irks me that banks call the activities they do (like loans and CD's) "products". The intangible nature of money lending seems to suggest that it is more of a fee based service than a "product".