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The Great Oil Deception: Part Two

Posted on June 15, 2008

It is getting much more expensive to find Oil these days. While it is true that it is getting more expensive to find oil, one has to examine whether that increase is of a permanent nature as many argue. The reason that it is getting more expensive to find oil is mainly because service, drilling and other costs are sharply increasing. While this may seem like a circular argument at first, my intention is to demonstrate that the cost of finding oil is rising to a cyclical peak, and that it is not secular in nature.All the data shows that the cost of finding Oil is rising sharply. Why? Very simp...

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drilling , gas , lng , markets , oil , pipeline