BIKE: Gimme or else!

[alan_drake]

> With OPEC pumping at near capacity, perhaps this bill is little more 
than an effort to make it look like 'something is being done' while 
implicitly placing the blame for high oil prices on OPEC rather than on 
depletion.
  -AF
  There is also an unspoken but implicit demand that other countries 
MUST supply the US with the maximum possible supply of resources, via 
the injunction against 'limiting supply'. How timely to have 'Gimme or 
else' entered into law. - LJ

What of Norway ?

They have already decided that oil in the ground has more value than produced oil.  Unlike the UK (which pumped oil on a static price model, produce more sooner has a higher present value), Norwegian oil & gas production should be relatively stable (although the % gas will increase).  They have produced their reserves more slowly than the Brits.

They also have a measured plan to slowly move production north over ~50 year period.  Of course, the presence of promising geological formations does NOT guarantee the presence of oil & gas.

Alan