Disturbing headlines abound!
Oil falls on oil find as Iran, weather take backseat"A test well is already flowing 6,000 bpd [barrels per day], and if even the low end of reserve estimates is accurate, [3 billion barrels] represent 400,000 bpd for 20 years, as much as Prudhoe Bay produces, currently," said John Kilduff, an analyst at Fimat USA.I’m a geologist so math isn’t my strong point but to get production up to 400,000 bpd from 6000 bpd is going to take many years of drilling deep wells. I don’t want to minimize the impact of the discovery because it is truly huge. However, converting reserves to flowing barrels takes considerable time and effort. I think we have at least 5-10 years before we have to lay off all the geologists.