Alaska could supply oil for up to two years if product from NPR-A, ANWR, Prudhoe, and Kenai were combined. Three months is a little pessimistic. Of course, two years isn't all that much time either.
I'll see that and raise you ten....Funny how Dutch Shell came right out a few months ago and said that they're pink slipping their exploration teams. Their statement basically said that they felt there were no more "Elephants" to find.
Natural gas is going south....The EIA has noted that domestic production will only increase by 0.5% in '04 and '05. There were an estimated 20,000 new wells in '03 and an expected 23,000 wells through '05. Read between the lines and it tells you that production is flat even with ALL THE NEW WELLS. That means the old wells are being sucked dry at an unpresidented rate... Watch the spot price for gas to hit $7.00 mcf next year.