For those of you that don’t follow the Oil Industry, here are the facts. The democrats 10+ year forecast is absolutely false. Offshore usually requires about 4 to 5 years to develop from the time that the lease is won. Onshore, an example might be the Bakken Shale Play in North Dakota. The higher prices enabled drilling in this unconventional play. In 2003, production was very limited. As technology improved, the play became more economical and more wells were drilled. In 2006, the field had increased its production to 2.2 million bbls per year (6000 bbls of oil daily.) In 2007, 7.3 million bbls were produced (20,000 bbls per day.) 2008 is expected to produce at least 25 million bbls per day (68,493 bbls per day.) You see the pattern? Not 10 years, less than 5. And incremental production will accelerate this field to world class—estimated reserves of 8 to 12 billion bbls. And this is just one of the many unconventional plays that are being driven by the higher prices. The Barnett Shale in the Fort Worth Basin was producing less than 1 billion cubic feet per year in 2000. Now it is the largest producing gas field (at the moment) in America. We are not running out of oil, but we are running out of cheap oil. If the democrats get their way with windfall profits taxes, then goodbye domestic oil and hello Saudi Arabia.