Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: GraceZ who wrote (110)	10/24/2000 12:05:11 AM
From: kormac	of 74559

Grace, What you say about some abandoned oil fields becoming profitable is certainly correct, but the big question is how much oil is in these fields. The oil production in the US lower 48 states peaked in 1970. This was predicted by King Hubbert in 1956. The exploration peak for the world was around 1964. The US exploration peak was about 1934. The time between the exploration and production peak in the lower 48 was around 35 years. Will the world production peak during this decade. Likely, says the petroleum geologists Colin Campbell and Jean Laherrere. oilcrisis.com Best, Seppo

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