Tuesday, November 29, 2005

WorldNetDaily: Abandoned oil wells uncapped

This might not constitute definitive proof of the "abiotic theory" (that alleges that oil does not come from crushed animals killed in the Noachic Flood, or wherever a secular humanist thinks the crushed animals came from). But it does illustrate a prime principle of business: that price is the necessary signal to the market of when to bother with a certain thing. The original drillers of those wells capped them because they could get oil from gushers someplace else, and a lot cheaper. Now, however, oil is not so cheap--so the uncapping of those wells becomes profitable. Not to mention that the oil industry is smarter today than it was then--smart enough to know how to take more oil from those wells, and for less money, than they could before.

Furthermore, the head of the California Independent Petroleum Association says that those oils couldn't be in a better place: California, right where they need it the most.


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