Sunday, April 20, 2008

Oil Exploration

"Despite spending over $100 billion on exploration last year, the five largest international oil companies found less oil last year than they pumped out of the ground." Source

There is a scary statistic, made much more scary by the fact oil production has passed up oil finds essentially every year for three decades. Before people could make the argument that this was the result of not looking hard enough though.

No comments: