Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Bruce L who wrote (83554)	1/5/2001 12:36:23 PM
From: upanddown	Read Replies (2) of 95453

I believe the odds are good that within days of their taking office a new program to "solve" the energy problem may be announced: stuff like energy independence, opening the artic wastes to exploration,etc. You're probably right. There will a flurry of "energy independence" chatter but I think it is just re-arranging the deck chairs on the Titanic. Lets say they open ANWR and some other closed Federal lands. Ignoring the numerous exploration failures in Alaska, if they get very lucky, they might produce 100MBD in 5-6 years from ANWR. Hell, by that time, Prudhoe and other aging Alaskan fields will have depleted by more than that. Even if the 100MBD is net new production, that is less than 1% of the daily shortfall of 11MMBD of crude and products. We have been stuck around 5.8MMBD domestic crude production all through this price upswing. We will be lucky to ever produce 6MMBD again. Talk of energy independence is just political claptrap. John

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