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Kasz216 on 19 February 2012
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Squilliam said:
Kasz216 said:

That's just not true.  It would be very practical to implement natural gas in cars for example... and pretty cheap.

Oil is in fine condition still, you can tell by the fact that we still aren't tapping into COUNTLESS areas with oil that have been named "off limits".

Hell, offshore drilling was just recently brought back on the table in part of Obama's plan to "Outflank the Republicans" by suddenly getting way more conservative.  Like his extremely harsh actions recently against legal (state wise) Marijuana dealers.

Jesus...

Countless areas?

Off Limits?

Methinks you're just blowing smoke up my arse. All I see is wishful thinking, cornucopianism and ignorance. You simply don't know enough about any of these topics to be worth talking to about these topics.

There is something like 500 billion barrels of Oil in the Brakken Shale formation.  Is all of it recoverable?  No, but the US used about 6.25 billion barrels of oil a day.

This is just one area in the US.

Although I don't buy the actual math or estimates... this gives some pretty good fundamentals about all the untapped oil just in the US.

http://seekingalpha.com/article/256403-how-much-oil-does-the-u-s-have-in-the-ground-what-does-it-mean-for-investors

 

Also, it isn't supply that's raising prices... it's demand.  (That and temporary supply issues, Iraq, Libya, countless refiniery troubles lately.)

http://online.wsj.com/article/SB10001424052970203833104577072301052759854.html

 

Prices will be exceptionally high this summer because of all kinds of refinery problems, not lack of products.