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Peak Oil is a Myth - High Oil Prices Govern New Exploration and Production
Plenty of credible sources have claimed for decades that oil supply is nearing it’s inevitable end. When I started drinving, I paid $0.91/gallon for gasoline. That incredibly high price was evidence that we had nearly drained the ground of black gold. Decades later, with millions of more barrels being produced daily than back then, the myth persists.
This peak oil [...]
Regulating Crude Oil Speculators - Is legislating prices the answer?
US Representative Bart Stupak (D - Michigan) cited the harmful impacts record high crude oil prices are having on consumers when introducing his bill to close regulatory loopholes that he said have allowed commodity speculators to push oil prices upward and profit from the increase.
Before introducing his gimmicky bill that pundits believe has no chance [...]
Oil Bounties of the Deep
A multinational consortium has struck oil in ultra-deep waters in the Gulf of Mexico.The companies said an exploration well called Stones #3 had hit reservoirs of natural gas and oil in 7,500 feet of water and at a total depth of 29,400 feet. The well was drilled by Royal Dutch Shell, which holds a 35% stake [...]
