Saturday, October 01, 2005
Does Oil Regenerate?
WorldNetDaily: Sustainable oil?: "About 80 miles off of the coast of Louisiana lies a mostly submerged mountain, the top of which is known as Eugene Island. The portion underwater is an eerie-looking, sloping tower jutting up from the depths of the Gulf of Mexico, with deep fissures and perpendicular faults which spontaneously spew natural gas. A significant reservoir of crude oil was discovered nearby in the late '60s, and by 1970, a platform named Eugene 330 was busily producing about 15,000 barrels a day of high-quality crude oil."
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I find this story extremely interesting and it may explain why the industry holds the position it does.In light of the book I recently finished, "The Prize" (the history of oil and the men involved)I may now understand why there isn't much of a rush to seek out other forms of cheap energy. If true, this regeneration theory is fantastic. Can you imagine one industry that wouldn't be dramatically affected by the depletion of the world's oil reserves?
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