Quote:
Originally Posted by cujet
As an Ex "oil man" who worked for a major oil company, this is not at all accurate with regard to oil and natural gas. There are staggeringly large known deposits. The numbers easily exceed one century of known reserves.
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One century for America, or one century for the entire world? There's a big difference there. Don't know about you, but I worry about whether my great grandkids will get to hear a V8 in their lifetimes.
And there's a big difference in the economical price of extraction for all those reserves, too.
Then again, people can and do get used to high oil prices. As long as the economy grows. Sucks for Europe, but you can't make an omelet without yada yada yada...