A lot of oil right here in North America

[CaptainBeowulf]

http://online.wsj.com/article/BT-CO-201 ... theadlines

"Production from Canada's oil sands region grew 14% to 1.49 million barrels a day last year despite the drop in oil prices"

"The report also increased its estimate of in-place oil sands reserves by 28% to 1.8 trillion barrels"

[kunkmiester]

there's plenty that's easier to get than oil sands--the current peak oil gig is political, not geological or economic.

[JLawson]

there's plenty that's easier to get than oil sands--the current peak oil gig is political, not geological or economic.

And you've got to wonder just who benefits from that. Don't want oil companies to make so much profit? Drill on land where you can actually GET at wellheads when there's problems, and increase the supply in the marketplace. Increased supply=lower prices overall. And honestly, I'd rather see us keep the money in the US economy than throw big chunks of moolah over to folks who despise us but have something we need.

So we transition (while using oil) to fission plants for electricity, and Polywells if they work - switch to an all electric infrastructure for transportation, and keep oil for chemical feedstocks and lubricants. Then we can wait on fusion - and after that... who knows?

[TallDave]

I don't know how much oil is out there that can be extracted at $100/bbl... but I bet it's s a hell of a lot.

Oil companies don't seem to believe prices are staying high. They still aren't investing in the risky projects. Someone more optimistic than I might almost think they were expecting new sources of energy to arrive on the stage...

I wonder what the Ghawar production numbers are so far this year?

[JLawson]

I don't know how much oil is out there that can be extracted at $100/bbl... but I bet it's s a hell of a lot.

Oil companies don't seem to believe prices are staying high. They still aren't investing in the risky projects. Someone more optimistic than I might almost think they were expecting new sources of energy to arrive on the stage...

I wonder what the Ghawar production numbers are so far this year?

It IS a hell of a lot - but regulation's stifled almost all exploratory drilling in the US. Sometimes I think that the only reason the government was licensing drilling in deep water was was they figured nobody would ever be able to get the tech to manage it. And after the oil companies started - they couldn't exactly go "We changed our minds, guys - can't drill there either!"

As it was, the tech was ALMOST good enough. But after this? It will be.

[Diogenes]

there's plenty that's easier to get than oil sands--the current peak oil gig is political, not geological or economic.

And who's behind it? The Democrats! They claim to be the party of the working man, but no one is hurt more by high gas prices than the working man. Furthermore, keeping oil prices artificially high by limiting American production empowers Iran, Saudi Arabia, Venezuela, Russia, etc.

I think many people are just simply unaware that the Democrats are our enemies greatest benefactors.

[MSimon]

I think many people are just simply unaware that the Democrats are our enemies greatest benefactors.

Yup!!!