oil prouduction and exloration is not falling behind what is happening is the oil companies are shutting down refineries and building new refineries has a cost that only they can afford.
The refineries hit by katrina were already shut down monthes before the storm. The oil companies are luaghing all the way to the bank and were stuck with a diesel price as high as 3 bucks a gallon
WalkaWalka Reviewed by WalkaWalka on . ANWR Question The Senate approved drilling in the Arctic National Wildlife Refuge. The measure was villainous attached to a filibuster-proof budget bill passed yesterday. A question though. The most liberal estimates - and I don't mean left-leaning - predict that there are about 10.5 billion barrels of oil available at the ANWR site. Some estimates have it at half that. The U.S. currently uses just over 7 billion barrels of oil a year. Peak production from ANWR of 1 million barrels a day Rating: 5