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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (392607)6/19/2008 5:39:51 PM
From: tejek  Read Replies (1) of 1577439
 
I'm just looking at a 40 year continuing drop in production...I'm certain drilling has been going all that time with no increase in production. And until recently all drilling rigs were in operation and all drilling ships....there is now a great rush to get more drilling ships. The worlds existing drill ships are booked for the next 5 years. See:

I think there is a belief in certain circles that because its not been an issue for them, no one has been drilling for oil during the past 30 years. However, now that they are thinking about it, they just assume all those rigs sitting in storage will be brought out and employed. It doesn't dawn on them that wildcatters have been drilling like mad for years now looking for new sources of oil and that there are no rigs sitting in storage.
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