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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: microhoogle! who wrote (130804)	4/29/2010 3:22:54 PM
From: JimisJim	3 Recommendations Respond to of 206184

I will agree that we cannot simply drill our way out of energy/oil dependence, but we do have to replace depletion which requires at least some drilling and the thing is, there just aren't any easy/safe places left to drill... and unless you want to see $400/bbl oil there is no "slow" allowed in the changeover unless we continue to drill at some given rate to replace oil like from Cantarell that will never come back... because it can take 10 years to plan, build and commission from scratch a significant project offshore... even if we simply delay or put on moratoria the existing deepwater offshore projects by a year, you'd see the price of oil begin to explode upward because all... let me repeat... all... of the significant oil fields found lately -- ones that might allow us to tread water awhile longer wrt supply/demand if/when the world economies all recover -- have all been offshore lately, with the possible exception of Bakken... Jim