> And the following came up totally at random, but strangely apropos:
>
> :::: We have now entered the cannibalization stage: the point where society
> must now consume its own infrastructure to survive. The price of oil is not
> high enough to replace reserves, or essential equipment. Fields will be
> pumped until it is no longer economically viable to work them, and equipment
> will be used until it can no longer can be repaired. Depletion is now
> beginning to take its last victim; the immense wealth that was accumulated
> from oil’s rampant consumption. -- Don Stewart
That's a fascinating observation from Mr. Stewart. My only challenge
to that thought is that it's always been cyclical. BP has sold the
Alaska operation to Hillcorp, but not after effectively abandoning the
future here a couple years ago. An oil company that fails to drill a
single exploratory well is destined to die. BP is also an incredibly
large company that can't figure out how to get out of its own way.
Hillcorp, on the other hand, is brutally efficient and excellent at
taking the depleted and worn out, replace the old with new more
efficient technology, and better methods.
The future is bleak, but not as bleak as the present.
AK Schnozz
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