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March 31, 2005



The one topic I fail to see in all reports is the lack of spending for Exploration by the so called Exploration companies. They proudly state they are spending dollars on exploration, but the sad truth is they are not drilling true exploration wells. The new definition of exploration is "make sure we're not wrong" and "to be safe, just say no to anything new". An in the trenches view from a 30 year veteran, I can tell you, if the street in NY were to grade by exploration spending, the picture would change, but the reality of the Peak is now mainstream. Were true exploration a priority, adding to existing reserves would change. There are numerous areas to drill that are not in sensitive areas and the companies are just not doing exploration. The consolidation and acquistion phase is over and until the companies decide to begin to dedicate funds to exploration you can expect the supply decrease and demand to increase. We must put pressure on the NY street to value stocks by their exploration budgets and not just their reserves. When true exploration budgets begin to be implemented and encouraged, we will see picture begin to change. Exploration is a dying art and few if any of the engineers who seem to dominate corporate oil and gas company management even understand the term. Thanks, kdg

Thanks for the comment, I have seen very little written about this subject and will take your comment to heart and look into it. If you could suggest where I look or give me some examples I would appreciate it. Jim

karl  (what wind and hydropower have in common)

The reason they compete is because you get the energy for free. It belonged to someone, even if only the public. Unlike the FCC, apparenlty potential energy reserves have not licensing entity that puts them up for auction, or even grants use permits gratis.

One wonders about the efficiency of many turbine/generator packs now in use. Probably as long as there's no shortage of water there is no incentive to boost such efficiency. INstead the potential is just wasted because usually drastic increases in scale increase transparency and taxation of otherwise pocketed profits. Existing nuclear facilities do have an unincentive to be undervalued as property, until energy is no longer so subsidized, until they are actually needed,instead of just trinkets of the cold war.

Solar Solutions

We just need today's Thomas Edisons to "Get Crackin'"!


The cheaper we can produce energy the better. Save money and put it into other things to reduce the national debt. Great information thanks heaps

oilfield equipment

we need to go cheap. i think wind would be the cheapest. wind is free.

solar power

B Green Solar Power is dedicated to providing affordable alternatives which help eliminate our country's dependence on foreign supplied oil, contribute to a cleaner healthier environment and alleviate the effects of rising energy costs.

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