Value Microcaps Junior Energy

[Bobwins]

"The current debate represents a significant twist on an older, often-derided notion known as the peak-oil theory. Traditional peak-oil theorists, many of whom are industry outsiders or retired geologists, have argued that global oil production will soon peak and enter an irreversible decline because nearly half the available oil in the world has been pumped. They've been proved wrong so often that their theory has become debased.

The new adherents -- who range from senior Western oil-company executives to current and former officials of the major world exporting countries -- don't believe the global oil tank is at the half-empty point. But they share the belief that a global production ceiling is coming for other reasons: restricted access to oil fields, spiraling costs and increasingly complex oil-field geology. This will create a global production plateau, not a peak, they contend, with oil output remaining relatively constant rather than rising or falling."

This writer has been drinking at the wrong water fountain. Industry insiders, who he is trusting have been wrong so often, it's silly. He is quoting CAMBRIDGE???? The same guys who laughed at Peak Oil and said we were headed for $40 oil right before oil started spiking?? These guys are paid shills of Exxon. Exxon can't increase production so they are buying back stock. They aren't investing in increasing production because their accountants can't show payback for what they find versus the huge increases in drilling costs.

After they put their foot in their mouths for years, now oil company execs are changing their tune and so now they are experts?? 100 million barrels? Where's the growth? Cantarell? Saudis? Not going to happen unless you count heavy oil that nobody wanted before. Light sweet ain't getting there in our lifetime. Bobwins