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Politics : Politics for Pros- moderated
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To: Snowshoe who wrote (120916)6/19/2005 5:15:02 PM
From: LindyBill  Read Replies (1) of 793843
 
Many experts say we are close to peak global oil production, and that annual global oil production will soon being declining.

That is the "Hubbert's Peak" theory. We are not there yet because we still have a tremendous amout of unexplored area in the gap. Plus a lot of what is explored is way underdeveloped.

You never have more than about seven years of proven reserves. Because companies cut back on exploration when we reach that number.

There is no need for a push by the Government for a "new" fuel. In fact the worst way to go at it is to have the Government get involved. "Mr Market" takes care of that problem.
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