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  • From: "Don Bowen" <don.bowen AT earthlink.net>
  • To: <homestead AT lists.ibiblio.org>
  • Subject: Re: [Homestead] The Frustration of Addressing Real Problems
  • Date: Tue, 15 Apr 2008 13:16:49 -0700

On the subject of peak oil here is some recent news. Russian oil output is declining.
http://online.wsj.com/article/SB120820608486613923.html
http://www.washingtonmonthly.com/archives/individual/2008_04/013523.php

Several fields are declining of have collapsed in recent years. The Saudis are no longer talking about increasing pumping but holding back for the future, mostly because they are at max. New oil finds are usually not reported accurately. Like the Jack field, how much will it cost to drill under 7000 feet of water and pump oil up well over 20,000 feet. The Canadian find will require expensive vertical drilling and fracturing. Not cheap.

It will not make much difference if there is plenty of oil if the cost translates to several hundred dollars a barrel. Will you be able to afford to eat and drive with fuel costs are near $10?

Don Bowen KI6DIU
http://www.braingarage.com/Dons/Travels/journal/Journal.html




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