You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #5: It's a minimum of 3-4 years for a major project. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Topic Forums » Economy Donate to DU
Yo_Mama Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-11 05:26 PM
Response to Reply #4
5. It's a minimum of 3-4 years for a major project.
Edited on Wed Feb-09-11 05:28 PM by Yo_Mama
One of the big sources of new supply are the synthetics from Canada. Several projects were put on hold when prices crashed.

No one's going to put significant funds into Venezuela - they have resources but until trust in the government develops they won't be developed.

Underwater drilling rigs are working as fast as they can go. They will continue to open up new supply, but there is a limitation as to how fast.

And then there are the heavier byproducts of natural gas, which are adding a percent or two to US production and some around the world, I think.

If prices average over 65 for four years I think more resources will go into opening up new production.

Edit to include link to NY Times article from 2008:
http://www.nytimes.com/2008/12/16/business/16oil.html
Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC