He’s right. To put it into prospective, Prudhoe Bay (at least 50% depleted) is the largest oil field in America with original reserves of 13 billion barrels. The numbers I have seen from the Eagle Ford are between 4 and 10 billion barrels. At best, it is a five to ten year flattening of the curve. We will still need the Canadians and Mexicans to increase production. Even Hugo Chavez will be sending oil our way for a long time.
“Prudhoe Bay (at least 50% depleted) is the largest oil field in America with original reserves of 13 billion barrels.”
According to oil execs that I had contact with in the 70s there is a field east of Prudhoe Bay that is 10 times the size of Prudhoe that was drilled and capped by Standard oil in the early 60s.
Maybe Venezuela, but Hugo isn't going to be doing anything on this earth for a long time.