Posted by MoparNorm on Wednesday, March 15, 2006 at 3:41PM :
In Reply to: Re: Running out of oil, not! posted by David Sherman on Wednesday, March 15, 2006 at 2:15PM :
Not only are some fields in CA "replenishing" themselves, technology is advancing with respect to recovering more of the tars and solids that used to economically unfeasible to recover. At $64 a barrel a lot of things are possible. The biggest issue with oil prices, besides politics, is that there is no competing energy source to keep prices tied closer to the real market. Economist speculate that over $20 of cost for a barrel can be directly linked to fear and terrorism. With bio diesel and fuel cells that day may come.
MN
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