[ScratInTheHat]

That is because extraction technology has improved significantly since the. I reopened two wells that were declared dead in 1980

OK if this is the case why is US production still declining?

I have no doubt that what you say is true. But! It's not going to take up the slack that is caused by a constant increase in demand. The only way that demand is going to fall enough is for prices to stay high enough to impact the economy negatively. It would have to take large scale conversion measures that still allowed the economy to expand.

I’m sorry but I don’t see that in the works here. The world economy is acting like a fungus it will feed until the food dries up then die off. It may do that over and over until we cross peak oil. But we don’t have anything that can deliver the energy that oil can. I don’t see people coming to understand what a world without cheap oil is going to be like.

Even if the west does start doing any of this stuff it’s just going to allow China India and Russia to use the oil that we save here. They are not going to do anything that is going to cost them anything near what it’s going to cost to get off oil.

[mad_as_he$$]

US production is declining because there is very little new drilling on “new” fields. Most of the recent on shore has been to extract from fields that have been in service for decades. Many of those fields would of been played out if not for new extraction and drilling techniques.