merits of this discussion

Jon Flanders jonathan.flanders at
Tue Nov 11 15:01:09 MST 2003

On Tue, 2003-11-11 at 08:54, dmschanoes wrote:
> That would be great if it-- drilling cost rises-- were permanent; if finding
> costs didn't show a downward bias; if lifting costs didn't show declines.
> But that has not been the case. That is not the case.  Drilling costs are
> production costs.  And like every other part of capitalist production, these
> costs are subject to intense rationalization, to reduction.
So I guess we can all relax. Capitalism will continue untroubled by the
increased scarcity of oil, since production costs will always decline.
Therefore when we are down to the last few barrels of oil, it will be
cheaper than the oil from the first gusher in Pennsylvania back in the
19th century.

Jon Flanders

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