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

To: Bill Harmond who wrote (7464)	6/6/2001 2:47:01 AM
From: craig crawford	Read Replies (1) \| Respond to of 57684

yes that is a nice discovery, and yes of course technology has improved exploration. but it's not enough to skew the statistical trend. you can look at a graph that plots discovery and it shows that it peaked in the 1960's and has been trending down ever since, despite all the technology and searching around the world. and when we do find the oil, it's not as simple as just drilling and pumping. the new oil we do find is often times very hard to access and it gets quite expensive to extract. 'Oil doom' tempers optimism specials.ft.com.