We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
MonteQuest
Suggest Quote
News
Discussions
Resources
Members
Norwegian state-owned companies Norsk Hydro and Statoil are likely to join Indian counterparts in exploration forays in Russia, North Africa, the Gulf region and in Latin America under cooperation agreements to be signed soon.
