This is an interesting tidbit that has some relation to the News and Views
article I had in the PSCF in Dec. 2000. This is from the Scotsman
newspaper:
"Analysts at the respected Energy Information Services said oil companies
added only 500 million barrels worth of oil and gas last year compared with
the one billion barrels of crude produced in the same period.
"This means that companies are producing twice as much oil as they are
currently finding in the North Sea, meaning companies' oil reserves are
being depleted at a faster rate than expected, calling into question the
long term future of the North Sea."
. . .
"He pointed out that more oil was found during the late 1997 through early
1999 slump, with 650 million barrels of new oil and gas reserves notched up
in 1998" Jeremy Cresswell, "Depletion of Oil Reserves Threatens North Sea
Jobs," The Scotsman, 01/06/01 p. B9
And I just heard through a salesman who has worked the Middle East that one
of the biggest fields in the world Ghwar, is watering out--at the top of the
structure. It seems that water is coming up from the underying layers
through cracks in the rocks. If true, this means that the largest field in
the world, will not be able to produce as much oil as was once predicted.
See G.R. Morton, "The Coming Energy Crisis" PSCF Dec., 2000, p. 228
If the price goes down next year, it will be because of a decrease in
demand.
glenn
see http://www.glenn.morton.btinternet.co.uk/dmd.htm
for lots of creation/evolution information
anthropology/geology/paleontology/theology\
personal stories of struggle
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