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Politics : Foreign Affairs Discussion Group
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To: mistermj who wrote (201602)9/6/2006 3:37:11 PM
From: Keith Feral  Read Replies (2) of 281500
 
Only a fraction of the available lands leased to oil e & p companies have been explored. New technology is making deepwater discovery available for the first time, witness Brazil and now the US GOM. We are going to be using oil and gas for energy for the next 100 years.

It is still amazing to me that the US uses 6 billion barrels of oil a year. That would wipe out the entire reserve that CVX discovered in the GOM in 2 and a 1/2 years. Despite the fact that it increases domestic production by 50%, it is a drop in the bucket for what this country consumes.

I think this is the time that energy companies start providing some visibility on long term reserves to force alternative forms of oil to relax. That saves them a lot of money from having to develop a new infastructure to accomodate new types of syn crude from all these various new sources.

The only thing disturbing me about peak oil is what to do with all the natural gas. We have so much natural gas we don't know what to do with it right now. How about the collapse in refining margins for companies like SUN? It's amazing to watch the refinery companies getted slammed back down every time I turn around. Asian margins are the worst in 10 years. I don't understand why the quick meltdown in margins and long term confidence in the energy markets.
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