Quote:
Originally Posted by Angel
ANWR.org (seems to be a pro-drilling site-they will estimate high) says that there are between 3.5B and 20B barrels of oil that is recoverable.
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Operative word is ESTIMATE. IOW it is just a SWAG based off today's technology at today's price. Didn't those people ESTIMATE how much the so called "dry oil wells" had? Yet they seem to be pumping again. I'm confused. How did that happen? Very simple. They said "Based on today's price and today's cost, this well cannot pay for itself.". What does that mean with tomorrow's price and tomorrow's technology and tomorrow's cost of extraction? Absolutely nothing.