Wednesday, November 23, 2005

Is UK oil output running on empty?

BBC NEWS | Business | Is UK oil output running on empty?:
by Adam Porter -- 11/22/2005
"'These declines do seem to be irreversible now,' says Deborah White, senior energy analyst at Societe Generale.
'In my experience, even when [oil] prices are extremely high and spending [on extraction] is extremely high, it has been virtually impossible to reduce decline rates below 3%.'"

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