Originally Posted by brandonbull
A 10 year window to bring on-line and minimal return doesn't sound great. How about conservation?
Instead of feeding our oil habit, maybe we could kick it? Exploring petroleum alternatives? The US has reduced it's oil consumption ~10% over the last 4-5 years and all we got to show for it is higher prices. What is adding a few % to our numbers going to do?
How do you think other fields are brought online? With your requirements nothing would be brought online.
We have been "exploring" other alternatives for decades. Nothing can compare to petroleum. So instead of continuing the square block in the round hole routine. Lets acknowledge reality and start developing some of these resources. If we have 1-3% more supply on the market who knows where the price of oil would be today.
Conservation is fine, I have no problem with it. However that is a seperate issue than blocking known oil reserves for little reason.
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