posted on Sep, 2 2007 @ 05:52 PM
Originally posted by Gools
This decline in production has been going on for a while (see
graph) but the decline is getting steeper with the slope
looking very much like the mirror image of the fast rise in production when the fields came online.
I can argue that North sea production is being manipulated and can not compete when oil prices are still sometimes falling to 8 USD per barrel but i
won't bother as global oil production is still rising in tandem with ever expanding global reserves that is not projected to become probleming until
I did deal with the North Sea issue here:
and it's pretty evident that it's far more economic for the oil companies to hide the massive volume of oil , by saying it's there ( who believes
them these days) than for them to admit to it's existence and destroy their own profits. Their manipulation of refining speaks volumes.
his can only mean that the UK will become even more dependent on Russia and others for their energy needs.
This might mean that but it's deliberate and has nothing to do with the fundamentals of oil supply or absence of it in the ground.