William Davison

For Your Perusal: The Glory of Free Market Oil Supply

Well I think your wrong it covers 6 years and we should of seen some demand response in that time. Yes it can take 10 years to bring on new fields, but your ignoring the fact that higher prices extend the fields life and increase the oil recovered. Many North Sea oil fields have had their projected life extended considerably in the last few years but its not stopped the decline. The message from the North Sea is clear. Its got the best data, the most advance technology, its capital intensive, has good local infrastructure, is political stable and even the Tax regime is fairly good.

Your clutching at straws. See the chart www.theoildrum.com/upl...

On Nov 02 04:15 AM Dave5577 wrote:

> Another indication of peak oil perhaps. Show a chart of their acquisition
> expense and exploration and development expenses over the same time
> period. And do not forget the long lead times to bring new oil to
> market...at times it can be 10 years or more with permits and the
> like.... Basically a chart that does not indicate what the author
> says it indicates.