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Theory - USA - Sustainable oil?
USA -WorldNetDaily.com By Chris Bennett (Posted originally: May 25, 2004) -5 Oct 2005: -- About 80 miles off of the coast of Louisiana lies a mostly submerged mountain, the top of which is known as Eugene Island... 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... By the late '80s, the platform's production had slipped to less than 4,000 barrels per day, and was considered pumped out. Done. Suddenly, in 1990, production soared back to 15,000 barrels a day, and the reserves which had been estimated at 60 million barrels in the '70s, were recalculated at 400 million barrels. Interestingly, the measured geological age of the new oil was quantifiably different than the oil pumped in the '70s... The theory is simple: Crude oil forms as a natural inorganic process which occurs between the mantle and the crust, somewhere between 5 and 20 miles deep. The proposed mechanism is as follows:... If Dr. Gold and Dr. Kenney are correct, this "the end of the world as we know it" scenario simply won't happen. Think about it ... while not inexhaustible, deep Earth reserves of inorganic crude oil and commercially feasible extraction would provide the world with generations of low-cost fuel. Dr. Gold has been quoted saying that current worldwide reserves of crude oil could be off by a factor of over 100.
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