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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (72092)	6/14/2008 5:30:30 AM
From: Bearcatbob	Read Replies (1) \| Respond to of 542787

Two points you ask about: 1. Properties in 2006 not explored yet. I think the above statement is rhetorical and lacking in perspective. It is meant for people who do not understand the process. First, once a property is leased one would need to know what the lead time is from lease to exploration. I am not specifically familiar with this but most major efforts have a significant lead time. We are only 18 months from 2006. That is not a long time. To me the statement alone is meaningless and misleading to those looking only at the superficial words. 2. 80% of reserves can be leased - "rough numbers" Since the lands have not been explored I find the key words to be "rough numbers". Without exploration how do you know? On its face I find it highly suspect - no matter where it comes from. Currently the offshore fleet of drill rigs is leaving the US. The ramp up time will be substantial. Dependence on foreign supply has been well engineered by the political class.