PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: J_F_Shepard who wrote (325882)	12/5/2002 12:16:29 PM
From: d[-_-]b	Read Replies (1) of 769670

JF, re:The data is based on decades of oil production.... I repeat....domestic production peaked in 1971-72 and has been dropping since, despite new finds coming on line......assuming the finds continue at the same rate (doubtful) you can project that domestic production will end 2010-2030... New technology turns abandoned oil well into a producer. fe.doe.gov said Secretary of Energy Spencer Abraham. "The Energy Department is committed to making successes like this become more commonplace. In the last five years, the million barrels of "new" oil that has flowed from the field is more than half as much oil as the property produced in all of its first 80 years of operation. Project sponsors predict that the advanced technologies ultimately will result in more than 4 million barrels of oil being produced – all from a 40-acre property once thought to be dead from an oil producer's perspective.

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