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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (6243)	5/10/2006 3:08:36 PM
From: Slagle	Read Replies (1) \| Respond to of 219466

Elmat, Amazing, isn't it? One thing that seems to me to be particularly dangerous about the current situation is that so much of the world oil supply comes from these very large and also the offshore fields which are produced by "water drive" or hydrostatic pressure. In Saudi there are only something like 6000 wells? In the US there are I think over 100,000, many of them stripper wells just producing a small amount, but producing none the less. If I undersatnd it correctly, these Saudi type wells are in much more danger of going to zero very quickly, rather than just very slowly producing like many wells here do year after year. Much more likely to cause a mega-crisis. I am way out of my league on this oil industry stuff, but I do know that many of our wells here produce for a very long time. From the late 1930's the family owned an intrest in a few wells on a farm near Clay City Illinois, wells that were first drilled before the 1920's. We sold our intrest in 1993 but I just heard the other day that all four wells ARE STILL producing, albeit slowly. Slagle