To: familyop
Based on current knowledge, but the ability to locate oil has improved when economics have forced the issue.
Right now the Middle East is king of practical oil output. Russia may be close on its heels, though.
39 posted on
06/19/2016 6:17:39 PM PDT by
HiTech RedNeck
(Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
To: HiTech RedNeck
"
Based on current knowledge, but the ability to locate oil has improved when economics have forced the issue."
That's true. But shale plays are more short lived and less productive than projections for loans led us to believe, and the scheme of pushing junk debt investments to oil production didn't work out well. Most of what we've seen about the issue has been propaganda.
There are various perspectives and interests here, but you might find it interesting.
http://oilprice.com/
I'll give cheap oil 3 1/2 years at the most, cheap oil being less than $100 per barrel. Then, it will be time to produce nearly everything closer to home.
48 posted on
06/19/2016 6:35:52 PM PDT by
familyop
("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
To: HiTech RedNeck
"Based on current knowledge, but the ability to locate oil has improved when economics have forced the issue."
I replied, "That's true." But that was a mistake. No new oil that can be harvested was located. Granted, though, production was made cheaper by cutting labor strength and suppliers to producers selling at less than profitable prices (suppliers also debt).
51 posted on
06/19/2016 6:52:41 PM PDT by
familyop
("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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