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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (387719)	6/1/2008 12:34:13 PM
From: Brumar89	Read Replies (1) \| Respond to of 1575622

Venezuela and Mexico fields are past their peak. They may be able to extract more oil if they were better run, but their best days are behind them in any case. Supposedly Russia's mgmt of its oil fields has improved considerably over the past ten years and they have increased production but their fields are very close to their peak. Their known fields. But those countries haven't done and aren't doing much in the way of exploration. Its almost certain that there is a lot more to be found. Most if not all these discoveries are simply replacing fields that are petering out. I don't think a lot of Americans realize it but any number of American wells there were shut down over the last 50 years have been re opened because its worth the hassle of getting every last drop of oil out of them. And still supply can not keep up with demand. Depletion of current fields is a fact of life and always has been. There's no argumemt there for not searching for more resources. There's always a possibility but its not likely. Its more likely the price will drop when demand slows.....probably during the next global recession. The current situation is looking like a top to me. But thats just me.