Running out of oil

Kudos to Mr. Dailey Berard of Universal Fabricators for his insightful letters on world oil supply (OGJ, Aug. 9, 1999, p. 8; Aug. 16, 1999, p. 10; Oct. 11, 1999, p. 6). Hopefully his letters will open the eyes of some Democratic presidential hopefuls that are currently opposed to drilling off every US coastline except Louisiana and Texas. These not-so-informed individuals should consider the following:World oil discoveries peaked in the 1960s.World oil production will peak in the next 10 years.US oil production peaked in the mid 1970s.The US currently imports 60% of its oil, mostly from Saudi Arabia, Venezuela, and MexicoNearly 64% of the world's remaining oil is in five Persian Gulf c...

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