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["Don Bowen" <don.bowen AT earthlink.net>]

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