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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (68122)	1/31/2001 1:19:28 PM
From: Haim R. Branisteanu	Respond to of 99985

George that is true that oil prices now are lower if adjusted for inflation than 10 to 15 years ago, but keep in mind that the success rate in finding oil is 10 fold higher than in the past and the efficiency of extracting most of the oil deposit from a find are very high - call it increased efficency by 100%. What was defined in the past as a depleted oil field, today, it is still a usable oil field, with the new extraction methods. As such there is more oil available for consumption than in the past from a similar pool of oil reserves, and the differences a very meaningful. Haim