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Originally Posted by winston53660  I honestly think that is speculation. I don't see how drilling in 200 ft of water could be more profitable than drilling on dry land unless someone is getting hood winked.
I'm talking about proven reserves. |
It could be the type of oil. The land based could be shale or other heavy, sour type while the ocean based is light sweet crude. I don't know, but the type of oil seems to be an important factor most people don't address. The US government trades and sells the sour heavy oil it gets as royalty for sweet, light crude from the Middle East and Canada.
But I'm not a geologist. But I do know several.