It looks like we have all the oil we need!
I'm just being facetious. Here is a study that is stirring up the academics.
Do you agree with their conclusions?
i think the reason US is starting to tap into its own resources is trigered by greed just like every other desision they make. They see that the auto industry is starting to go green and so the need for oil is going to dwindle over the next 5 years hopefully much sooner, but given there track record they could fight it even longer..
And with China and Japan going almost 100% hho or electric on there new cars there is a good chance that oil prices will drasticly drop and possibly cause a global collapse in the oil industry.
one could only hope...
cheers Rusty I love these threads that make people think.
You hit it on the nail head.
This is just one of many studies. But, I agree with you about the oil company greed, and what this study means.
Originally Posted by reggaerican
They are producing this oil from increasingly costlier sources ( deep water drilling, tar sands, NG conversion, etc.). The price of oil allows them to invest in discovery and extraction cycles that are increasingly costly. But what happens when the demand for oil drops because of austerity and conservation? Big oil loses money!
Do you want to hit Big Oil in the only place it hurts them - in the profits picture ? Go green. Spread the fuel miser HHO tech. Get those Meyer devices going if you can. Use electrics in short range applications. Convert to Natural Gas for longer range, and start the transition of those vehicles to Bio-Gas. Use any and all fossil fuel avoiding, minimizing or recycling techniques, and the bottom will fall out of the demand for their products.
The Giant is still a Giant, but he stands on spindly stilts!