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To: rich evans who wrote (256079)	6/29/2008 6:50:41 PM
From: skinowski	Respond to of 793851

If you add up Anwar, Bakken, oil shale, offshore etc, you get a lot of reserves which could contribute to the world market/lower the price of oil and supply the US for decades. We could become and exporter of oil. But we do need to conserve and change energy sources. There will be no substitute for the marvelous stuff called oil with its high energy content /polymers etc. Well said. Given time, people will adjust to a life in a post-cheap-crude world. Recall having a conversation with a friend - probably in 1999, when oil price dropped to something like 10 bucks a barrel. He explained to me that this was a result of technological advances in exploration and recovery of oil - new ways of finding it, better and more effective ways of drilling, like parallel drilling, etc. I think he was right. It is possible that all those new efficiencies helped set the stage for the current conundrum -- by "masking" the rapidly growing demand. Hopefully, whatever transition we are facing should go peacefully and smoothly.