Some food for thought.
This from the Abilene Reporter News..Tuesday, 11/9/97
August oil production
Texas preliminary August 1999 crude oil production averaged 1,068,346 barrels daily, down from the 1,208,440 barrels daily average of August 1998.
The preliminary Texas crude oil production figure for August 1999 is 33,118,732 barrels, a decrease from 37,461,632 barrels reported during August 1998.
August gas production
Texas oil and gas wells produced 444,881,084 Mcf (thousand cubic feet) of gas based upon preliminary production figures for August 1999, down from the August 1998 preliminary gas production total of 479,175,663 Mcf.
Texas production in August came from 146,117 oil and 52,824 gas wells.
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Thats a decrease of over 11 1/2 percent in oil production
and a decrease of over 7 percent in gas production from one year earlier. Seems like we don't hear much about the dramatic decline of domestic production and how it factors in the world supply and demand calculations. We are burning more, and producing less. The quantities are beginning to become significant.
Rod. |
