The New Economy's Impact On Oil Drilling

There is less oil in the ground each year. But knowledge, and not natural resources, is the critical resource in the new economy.

1 minute read

January 5, 2001, 11:00 AM PST

By Chris Steins @planetizen

"In the past an oil well was disposable, like a drinking straw: drillers stuck it in, sucked out the oil, and then threw it away. Nowadays, in deep water and other environments where drilling is expensive, oil companies are beginning to view wells as being less like straws and more like roads, to be used and reused as new sections of reservoir are opened up and as old sections are redeveloped with new technologies."

Thanks to Chris Steins

FULL STORY: The New Old Economy

Thursday, January 4, 2001 in The Atlantic Monthly

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