Quote:
Originally Posted by MetroMPG
I think you give them too much credit. (No pun intended!)
The minute profit margin re-appears is when the next boom starts.
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Only time will tell. 2017 is likely when we will find out.
As solarguy says, the Saudi gameplan seems to be to put everyone off of investing. Granted, the capital to reinvest is there, but nobody wants to be the one holding the potato when the French Fry market drops.
Quote:
Originally Posted by redneck
Funny, I could say the same applies to you.  |
I read way too much about oil.
My job is merely to report on cars.
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I don't doubt we will still have oil reserves long after we're all dead and gone. The only question is the economic viability of extracting that oil.
It's similar to gold... we have millions of tons of gold floating around in seawater. But it might as well not be there for all the good it does us.
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Granted, we could eventually find out that oil deposits are naturally formed abiotically, meaning that "dry" wells will eventually get replenished as new oil seeps upward into them... rather than seeping sideways from untapped deposits... but we're still facing the same issue as with ground water... it appears that our rate of extraction still exceeds the rate of replenishment.