Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (7420)	6/4/2001 1:23:39 PM
From: craig crawford	Read Replies (2) \| Respond to of 57684

>> Yes. I hear it costs $6 to discover new oil. << hah! "discover". what about extracting, transporting and refining? bill have you read a couple of the links about oil posted on my commodities thread? approx 90% of all the oil in the world has been discovered already! not only that, but all the easy oil gets pulled out first because that's the most profitable way to go. there are some good articles out there that point out that we are rapidly approaching that time when the ratio of energy expended to discover, extract, and transport the oil is even with the energy output! many of these articles also point out that we are right at the point of peak production and production is going to fall off dramatically over the next few decades.. that's right. demand is explodng at a time when we simply can't produce anymore. today we only "discover" one barrel for every four that we consume. just wait until demand for hydrocarbons skyrockets around the world when two and half billion chinese and indians decide that cars and motorcycles beat bicycles!. like i said, just 1 quart of oil a week per chinese and you just wiped out 25% of the world's oil production. you are way off the mark on this one, bill.

To: Bill Harmond who wrote (7420)	6/4/2001 1:31:02 PM
From: craig crawford	Respond to of 57684

"The rig count over the last 12 years has reached bottom. This is not because of low oil price. The oil companies are not going to keep rigs employed to drill dry holes. They know it but are unable and unwilling to admit it. The great merger mania is nothing more than a scaling down of a dying industry in recognition of the fact that 90% of global conventional oil has already been found." - Goldmann Sachs, August 1999