Re: Fuel Price

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Now Steve, stop confusing Max and Miles with such things as facts. As long as they keep their heads in the sand, everything is fine and there is enough
oil to last forever at an ever increasing rate of consumption.
--
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"Steve Scott" < snipped-for-privacy@twcny.rr.com> wrote in message
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I'm not so sure there isn't enough oil to last forever. Well at least for the foreseeable future. However, the limitations are getting it out of the ground and refining it into the various products we use. These are HUGE limitations at this point that we need to address immediately by additional drilling for our own resources and new refineries. It won't help today or tomorrow but a few years down the road.
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In addition, there are already known deposits that previously were too expensive to pump due to minimal return on the investment. With higher prices on a barrel of oil, now it may be profitable to pump it out.
Also, a study done jointly by a Texas university and oil companies claims to have used radar and found that at least one well that started pumping more than expected appears to have flow in from beyond the penetration of the radar.
What this says to me is, we don't know how much oil is actually there, and neither the doomsayers nor the "oil forever" types are likely to be correct.
--
Max

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