Actually 1-2% or world production can end up being a lot.
If we see 1-2% in 10 different places, that is 10-20% of world
supply.  That can have a big effect on  the world price.

On Tue, 22 Jul 2008 13:54:24 -0500, Mark Landin <[log in to unmask]> 
wrote:

>On Tue, Jul 22, 2008 at 7:28 AM, Denys Beauchemin <[log in to unmask]> 
wrote:
>> I have done some further research and it seems that the congressional
>> moratorium on offshore drilling off the coast of California expires this
>> September 30th.  Also, because the oil platforms are already there on site,
>> it would seem that oil could flow from there within a year.  This could have
>> a major near-term effect on oil prices.
>
>How much production are people thinking would come out of that patch
>in the near future? Surely it can't be more than 1-2% of world
>production. I don't think you'll see anybody in the oil pricing
>business react to something so minor.
>
>>--
>"If hard work were such a wonderful thing, you'd think rich people
>would have kept it all for themselves" - Lane Kirkland
>
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