"David Hansen" wrote in message
...

snip most of the 'agenda driven' URLs/citations

"Listening to the 'market experts' on your evening news, you could
be forgiven for thinking that oil production is governed purely by
economic theories. It is going to be a painful lesson, but even the
economists will soon learn that the production of oil is in fact
governed by very sound geological principles and the laws of
physics.

No one other than with a anti oil agenda, such as those you cite have
said anything diferant, FFS the oil companies have been saying that
since they first drilled in the North Sea!


"The oil we have built our societies on was actually created one
hundred million years ago. More of it is not now going to suddenly
appear 10,000 feet underground just because economists say the price
is too high. [snip]"

No, but new fields do get discovered, then with the price of crude oil
increasing, there are the previously un-economic fields/sources that
become economic - a prime example is oil retrieved from oil shale,
high cost of retrieval for relatively low production returns, but if
the barrel price is high enough...