Originally Posted by
FDXLAG
So what was Brazils peak production prior to their recent find? Think their peak production is in the past or the future? Ok I accept your flawed argument that we can never pump more oil than we are pumping now. What is the harm in trying? Even if the price continues to go up it will not go up as fast if we pump more oil. If we pump an extra 1000 barrels a year, wouldn't it be better than buying a 1,000 extra from abdul? If we can't get back to 10 billion wouldn't 8 billion be better than 5?
First off, I agree w/ you that it would better to use our own oil vs. King Abdullah's. No argument here. It's just that we use 21 million bbl/day here domestically. We'll never see anything more than 10 million bbl/day produced domestically again, even this figure is overly optimistic. So at current consumption, we'd still need to find an additional 11 million bbl/day from some foreign entity.
Re: Brazil, if I remember correctly, I believe their recent off-shore discovery was estimated between 800 million/1 billion bbls. Sounds like a lot of oil, but at a worldwide consumption of 85 million bbl/day, this discovery would only supplement our current use for about 10, maybe 13 days or so.
All I'm saying is that either way we look at this, the future is bleak. I'm trying to adopt an optimistic approach, to me that means weaning ourselves off of oil a bit. I don't have a very good feeling about human nature, we're not much different from dogs in my opinion.