'Peak Oil' Scam Unravels, Oil Reserves Increasing
by GEORGE CRISPIN
(EDITOR'S NOTE: Could this be the beginning of the end of the so-called "Peak Oil Scare Scam"? You know - the one where they say, "Help, help, we're running out of oil.That's why the price of gas is going up. That's why the US invaded Iraq. That's why... blah blah blah." Don't hold your breath. As long as well-paid disinfo guys like Mike Ruppert are doing speaking engagements, all bets are off, pal.)
Eugene Island is an underwater mountain located about 80 miles off the coast of Louisiana in the Gulf of Mexico. In 1973 oil was struck and off-shore platform Eugene 330 erected. The field began production at 15,000 barrels a day, then gradually fell off, as is normal, to 4,000 barrels a day in 1989.
Then came the surprise; it reversed itself and increased production to 13,000 barrels a day. Probable reserves have been increased to 400 million barrels from 60 million.
The field appears to be filling from below and the crude coming up today is from a geological age different from the original crude, which leads to the speculation that the world has limitless supplies of petroleum.