posted on Apr, 21 2004 @ 09:50 PM
i have not seen that site before and i found it very intresting. I read the WHOLE artical like you asked and am glad i did.
here is quote i found most intresting:
How can Proven Reserves increase when 27 billion barrels are produced (consumed) every year? New oil reserves are being discovered but only at the
rate of 6 billion barrels per year which offsets only 25 per cent of consumption. The truth is that Unconventional Oil is being relabeled as Proven
unconventional oil is not fit for extraction. it takes more energy to extract the oil from canadian tar sands then could be produced by the oil that
will be derivied from it.
the economics section at the end is very helpful in understanding why deep water drilling is not profitable.
It sates that the surface wells in the begining of the 20th century would produce 200 times the oil to pay for the cost of the well. current deep
wells only produce 5 times the cost of the wells.
in short we are witnessing the oil business becoming less profitable.
and what happens when profits vanish for a big corperation?
(1)prices go up
(2)the company will go to extreme measures to insure future profits (lying for shell oil)
the companies are lying to the world at the exspense of all of us, and very few people know or care.
thank you for posting that link
i went to the home page and found it very informative also:
in short the more i reaserch the more serious a problem i realize this is.