famousringo on 01 December 2009
| 1337 Gamer said: ^ theres plenty of oil left in the world. |
It's not really about how much oil there is in the world. It's about how much of that oil can be extracted in a given year and at what cost.
The supply of oil available per year has been basically flat for the past few years, while demand keeps increasing. Hence the price of oil is creeping back towards $100 per barrel and we are looking for ways to lower consumption and find new sources of energy.
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