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Politics : Politics for Pros- moderated
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To: Nadine Carroll who wrote (256577)7/3/2008 12:20:03 AM
From: Triffin  Read Replies (1) of 793868
 
US domestic crude production .. million of barrels per day

tonto.eia.doe.gov


2002    5.746 mbpd   price 12/2002   $35.00/barrel
2007    5.103 mbpd   price 12/2007  $110.00/barrel


You'll note that during the above period that the price
has more than tripled while supply/production declined
by 11.19% ..

We've been drilling like crazy to mitigate
the depletion rate or the decline would have been more
severe than what we have experienced ..

I wish I could be as optimistic as you about our ability
to ramp domestic production by an additional 4-5 mbpd as
you posit; hopefully, the powers that be will lift all
drilling restrictions both onshore/offshore so we can
have a go ..

Triff ..
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