Act Clean Technologies Inc. (fka ACLH)

[seaghost]

Oil Innovations Pump New Life Into Old Wells

http://www.nytimes.com/2007/03/05/business/05oil1.html?pagewanted=1&_r=1


Excerpt

Many oil executives say that these so-called peak-oil theorists fail to take into account the way that sophisticated technology, combined with higher prices that make searches for new oil more affordable, are opening up opportunities to develop supplies. As the industry improves its ability to draw new life from old wells and expands its forays into ever-deeper corners of the globe, it is providing a strong rebuttal in the long-running debate over when the world might run out of oil.

Typically, oil companies can only produce one barrel for every three they find. Two usually are left behind, either because they are too hard to pump out or because it would be too expensive to do so. Going after these neglected resources, energy experts say, represents a tremendous opportunity.


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