This is a reply to Chuck,
The government might be capable of doing a rationing plan (and I have no doubt that that will happen whether I like it or not), but there is one thing the government can't do well and that is run an oil company. In the US can you imagine the head of the US agency in charge of exploration going before congress to explain why he had just spent $100 million dollars on a dry hole? (the most expensive well in the Gulf of Mexico was $140 million--it was a dry hole). The party out of power would love the photo and grand standing opportunities about the incompetence of the poor guy getting grilled. Such a situation would be great for the seismic industry. We would shoot and process more seismic than we do now so that the head bureaucrat could avoid those pesky congressional hearings. And after enough of those hearings we would stop drilling altogether.
Received on Sat Oct 29 22:36:06 2005