Subj : Gas Crunch
To   : Frank
From : Deuce
Date : Tue Aug 30 2005 01:33:00

  Re: Gas Crunch
  By: Frank to Newborn on Tue Aug 30 2005 00:45:00

 >  > There still a lot of oil in the US, but, they capped the wells until the
 >  > price rose high enough to justify the cost of recovery,
 > 
 >    This is an urban legend....

Not completely... wells are capped as they stop producing more than they cost
to operate.  Old wells are often reopened as additional tecniques are developed
and when oil prices rise and stay there.  Of course, if the drilling companies
could make more money using the wells in the USA, they would.

I've never understood why people think the oil companies capped them and left
them capped if not for monetary reasons.

But yes, there are MANY capped oil wells... they're jsut not worth reopening
yet.

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