Over the past year, American drivers have found themselves longing for the days when two dollars per gallon seemed expensive. Oil prices are rising at an unprecedented rate, and as a result, many are questioning whether the Earth's available oil supply has reached its peak. Are there still oceans of oil awaiting our discovery? How much pain you'll be feeling at the pump in the future depends on the answer.
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Low Cost Oil is Telling Us Something
Most of what you said about oil production is incorrect
It is about supply and demand. It has nothing to do with whether we have reached our peak potential which is still and unknown factor as improved drilling and extraction methods keep increasing available supplies. The rest of your post is rambling on about all kinds of things most, to my surprise, I agree with. :-)
- tbcass
January 26, 2009 1:16PM
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Same with Natural Gas
We have a huge surplus of Natural Gas more and more of which is being extracted using improved drilling techniques. Of course eventually, maybe in 100 or so years, we would run out of fossil fuels if our usage patterns didn't change.
- tbcass
January 26, 2009 1:19PM
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