by Armageddon » Tue 08 Aug 2006, 16:07:30
they had an ex energy dude from the US government on and he was talking about how much oil was still to be discovered in the US. Then I called in and said it would take atleast 4-5 years before one drop of oil would even come online if they started drilling today. And I said it doesnt really matter how much they discover in a particular field, it's the flow rate that is important, and that anwar would only bring on about 800,000 mbpd at the most. I also told him that world decline rate is 8%, plus we need an additional 3-5 % of new oil to fund economic growth. They seemed somewhat in agreement with my statements. I had lots more to say, but they ran out of time.