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No one really knows the exact reason why oil is going up in price. It's all an almagamation of the falling dollar, supply not keeping up with demand, Middle East tension, supply disruptions, and speculation. Millions of analysts have knives, but not one of them knows how to cut the pie.
Drilling for more oil domestically will do little. The Alaskan oil fields at Prudhoe Bay, the largest ever discovered in the United States, came online after US production started declining. As it is, way more oil fields are being depleted around the world than are being discovered.
We either pay the price of reckless energy use today or tomorrow. I know many don't give a damn about future generations, but I say lets deal with the issue today. I think that giving modern society a sustainable energy infrastructure would be more impressive than our efforts to send man to the moon.
Here's to infinitely expensive oil...
- LostCause
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