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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (184096)3/4/2004 3:39:33 AM
From: hmaly  Read Replies (1) of 1574002
 
John Re...The new sources of oil are not increasing as fast as the world demand for oil. At the same time, the oil that is available, from SA and other oil producing countries, is getting more expensive to produce. Iraq is the last place on earth with "easy, cheap" oil that hasn't been exploited (what a coincidence).

I doubt if that statement is true. After all, the oceans cover 2/3 of the earths surface, and only a small fraction has been explored so far. As far as costs, when you add in OPEC charges, the cost to the US isn't exactly cheap. Most ocean drilling costs come in under 1/2 the price of OPEC rates, so in total, a lot of ocean finds, assuming there are no royalties, could be a lot cheaper.
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