[trane250]

The article is based on self-serving propaganda put out by the American Petroleum Institute. The reality is that there will be an increasing imbalance between the available supply of petroleum and demand. Regardless of whether big new oil fields are found, the older fields’ production will decline (Cantarel in Mexico is down by over 500,000 barrels per day year to year) and more than offset any new production.

Our congress is incapable of addressing this problem.

[woodbutcher]

Carefully read again what you posted.

Regardless of how much new oil we find, the old fields will decline. ????

Regardless of how much new oil is found?

For all we know, there is 100 or 1,000 or a million times more to be found than the old fields had originally. If so, then old fields could go to zero and we would still have more than we can use.

The fact that old fields are drying up only makes it more imperative that we drill in all known sites.