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PeakOil is You

PeakOil is You

Oil Industry windfall

A forum for discussion of regional topics including oil depletion but also government, society, and the future.

Oil Industry windfall

Unread postby Dreamtwister » Thu 02 Mar 2006, 15:52:45

Govt. Eyes Error That Cost U.S. Billions
$this->bbcode_second_pass_quote('', 'H')ow it happened or who's responsible is a mystery eight years after the fact. But what may have been a simple error — or perhaps something more ominous — has given a multimillion-dollar windfall to a group of oil and gas companies and could cost the government billions of dollars more in the years to come.

Darn those "word processing errors"!
And this part in particular caught my eye, though I doubt the masses would have noticed:
$this->bbcode_second_pass_quote('', 'T')he price of oil Wednesday on the New York Mercantile Exchange was nearly $62 a barrel and the government estimates it will remain in the $50-a-barrel range for years to come.

To me, that sounds like a tacit acknowledgement that the days of cheap oil are over.
The whole of human history is a refutation by experiment of the concept of "moral world order". - Friedrich Nietzsche
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Dreamtwister
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