President Barack Obama Message Board

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Politics : President Barack Obama

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To: Wharf Rat who wrote (24632)	6/25/2008 11:35:08 AM
From: koan	Read Replies (1) of 149317

As you probably know oil fields fall like sliding down a bell curve. Most of the big oil fields are in decline. Alaska went from 2.2 million barrels a day to about 700,000 plus 100,000 barrels of heavy oil being produced today. The prudhoe field had 16 billion barrels and West Sak 4 billion, but there is another 100 billion barrels of heavy cold oil lieing above West Sac they are goign after now with the new high prices. Mexico in big decline, Russia in decline for fist time this year, Saudi fields filling with salt water. Personally I like the high prices as I think it will force us to face reality about both energy and I hope pollution. It is certianly a time when we will need to make smart decisisions. Cutting taxes does nothing. It just gives more room for oil companies to raise prices. The truth is we are going to need to restructure our entire infrastrucure to accomodate the new reality.

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