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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (30396)	2/19/2004 2:48:34 AM
From: D. Long	Respond to of 793843

We find more oil when prices go up. And stop when they are stable or going down. The problem with projections of when we'll run out of oil is that they depend on current reserve figures. Known reserves isn't the same thing as all existing reserves. When the price goes up, as you said, there is an incentive to go out and find more. And if the price goes UP, then fields that were previously uneconomical to tap will become economical, and they'll be exploited. There's a lot of Texas tea in the ground to go around for a long, long while I suspect. Once it does run out, we'll do something else. Once it becomes economical to do so, not before. No worries! :) Derek