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<blockquote data-quote="bacha29" data-source="post: 5700353" data-attributes="member: 58386">Drill/No Drill in that area is a battle that has been going on for what....30 years?Now let&#039;s look at industry data.During the years 2007-2014 US drillers spent an average of 79 billion a year on new source exploration .The result? Big glut of cheap oil which some of you guys appear to be addicted to.As a result drilling activity slowed to a near stop while the industry adopted better supply management practices .Drilling activity for the years 2023-2027 projected to average 22-23 billion a year. Not much and not back to previous record highs but an improvement that would indicate a return to more market not political but market driven exploration.Primary areas to be explored....Africa and the Mediterranean. That much to an extent is political. Get in there and get control over whatever is there before Putin gets in there.</blockquote>

[QUOTE="bacha29, post: 5700353, member: 58386"] Drill/No Drill in that area is a battle that has been going on for what....30 years? Now let's look at industry data. During the years 2007-2014 US drillers spent an average of 79 billion a year on new source exploration . The result? Big glut of cheap oil which some of you guys appear to be addicted to. As a result drilling activity slowed to a near stop while the industry adopted better supply management practices . Drilling activity for the years 2023-2027 projected to average 22-23 billion a year. Not much and not back to previous record highs but an improvement that would indicate a return to more market not political but market driven exploration. Primary areas to be explored....Africa and the Mediterranean. That much to an extent is political. Get in there and get control over whatever is there before Putin gets in there. [/QUOTE]

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