Monday, November 23, 2009
U.S. Exhausted Oil And Gas Supplies — Repeatedly -- A Commentary
From The Houston Chronicle:
What city contributed most to the making of the modern world? The Paris of the Enlightenment and then of Napoleon, pioneer of mass armies and nationalist statism? London, seat of parliamentary democracy and center of finance? Or perhaps Titusville, Pa.
Oil seeping from the ground there was collected for medicinal purposes — until Edwin Drake drilled and 150 years ago — Aug. 27, 1859 — found the basis of our world, 69 feet below the surface of Pennsylvania, which oil historian Daniel Yergin calls “the Saudi Arabia of 19th-century oil.”
For many years, most oil was used for lighting and lubrication, and the amounts extracted were modest. Then in 1901, a new well named for an East Texas hillock, Spindletop, began gushing more per day than all other U.S. wells combined.
Since then, America has exhausted its hydrocarbon supplies.
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