Posted on 01/21/2013 7:21:50 PM PST by blam
East of Prudhoe Bay is ANWR which was originally set aside as an oil preserve. There is also an even larger oil preserve west of Prudhoe. There are know fields offshore from Prudhoe. If you believe rumor, ground penetrating radar from orbit says there is a much larger field further down at Prudhoe itself. Current projections are for forty to fifty more years of oil production at Prudhoe itself using current wells at a slowly declining rate followed by about the same for gas production.
I worked most of the last four years in Prudhoe. Peak oil is laughable...
” - - - synthetic oil - - - “ is not the same as CRUDE OIL.
BTW, what is the youngest known CRUDE OIL, World-wide?
“The producers are taking rigs offline to reduce supply and increase prices.”
Or maybe it’s as simple as not being profitable when the prices are that low.
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