I remember the wackos saying back then we would be out of oil
by 1985

Fact is, the world has never had more than about a 15-20 year "supply" of
oil since the late 1800's.  However, we have always found more by drilling
in new areas, new techniques, secondary recovery, etc.

As we move into more difficult locations and deeper wells (we're

considering

a 33,000 ft well in 5700' of water next year...) price per barrel will
continue to increase w/ very impressive short term spikes and dips along

the

way.

And in spite of what the alarmist cry, the oil crisis of '70's was simply

a

marketing/deliverability crisis no different than bread or batteries
disappearing from store shelves after hysterical predictions of an
approaching storm.

There was (and is for now) plenty of oil to go around until the next
panic/hysteria "demand" sets in.

BTW - Based on proven reserves and projected demand, we still have about a
15-20 year supply of oil. :)

Steve Webre
Broussard, LA

Hi Steve,

I do understand your comments above - marketing, perceived VS. real
shortages, etc.  And we are getting much better at locating deeper oil and
extracting quantities from older wells that we didn't know how to get
before.  In this regard, the oil industry is correct.

However, oil is dead dinosaurs and really old trees.  I haven't seen any
dinosaurs around lately.  Oil is very much a finite resource, in spite of
our inability to accurately locate the bottom of the barrel.  In that
regard, the 'wackos' are very correct.

(One of the reasons our fuel is still cheap today is that we're getting the
'junk' from Europe that isn't up to their specs.)

I'm glad there's enough fuel around for me to fly a familiar aircraft and
engine.  It won't always be that way, tho.

  Have a great weekend,
   Andy Hecker

Find Out About the Oil Company
That Wants You To Buy Less Oil.
www.zamslube.com

Nah the price will be $10,000 a barrel but it will still be around.

We will run out of iron ore and aluminum ore too but nobody is getting
upset about that.

It amazes me the dinosaurs and the trees got down to
33,000 feet.

Paul Lamar
 
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