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Leading petroleum producers, including Saudi Arabia and Exxon Mobil Corp., are aggressively arguing that plenty of crude oil remains for world consumption, a move to counter critics who contend crude output is about to plateau, according to the Wall Street Journal on Thursday.

What a stupid statement.

There might be enough oil for 100 or 1,000 or 10,000 more years. That's not the point. Peak oil concerns peak production. There may still be plenty of oil even after the production peak. It will just be harder to get at.

The new find in the Gulf of Mexico proves the point. There they had to have platform floating a mile above the sea floor and a drill that went down another four miles to get to the oil.

There may be lost of oil left, but it's less and less easy to get to and that fact has important consequences.

[_Jim]

There might be enough oil for 100 or 1,000 or 10,000 more years. That's not the point. Peak oil concerns peak production. There may still be plenty of oil even after the production peak. It will just be harder to get at.

Would you mind pointing out to us where the NEWS is in that statement?