So you read ABOUT a study. You didn’t read the study itself but somebody wrote something about somebody else writing something?

Nobody in the oil industry knows about this study or else they wouldn’t be drilling thousands of wells in difficult places, they would just drill a few in an easily accessible place, draw from one until it needed to “replenish” switch to the next until it needed to “replenish”, work their way around to the first. Continue forever.

Does that seem reasonable?

I’m not even talking about how the temperature at that depth would be so great as to break hydrocarbon molecules apart and not leave petroleum. I’m not even talking about how the Earth’s crust is about 18 miles thick and the mantle is below that, such that most places 5 miles don‘t even start to get there. That doesn’t matter.

Remember, if any ONE company decides to do something like that successfully, it can put all the rest out of business. We’re talking Russia, Norway, Brazil, France, Iran, Iraq, Saudi Arabia, Kuwait, Argentina, Angola, Nigeria, Libya, and all the hundreds of individual oil companies. All would have to be in on the conspiracy to not produce money that way. All would have to cooperate with each other to shaft us.

David for paranoia

If the public new that oil was a natural reacquiring substance and not fossil fuel, and it can be processed for a lot less than we are paying for it now, then the price would drop. Only thing is if this happens, then think of all the people who would lose their jobs working for the big oil companies. I wonder if BP was trying to do what the Russians did in the 1970’s, but instead they hit a large pocket of natural gas, instead. Who knows?

Scott for pointing out the facts
That don’t get in the way.

You just HAD to give them the idea, didn’t you?

Of course they already had the idea. They decided to turn corn into ethanol for fuel, knowing they got less energy out than they put into the production but it raised the prices of food for those dependent on corn. All part of a communist plot or an islamic plot or some sort of plot to make us thinner.

David for oatmeal

It is not as easy as just pointing a finger, but I doubt many folks really have a clue.

For example, public opinion seems to favor ‘raising taxes’ on oil companies to ‘punish’ them for making a profit… little thought seems to be given to the likely effects.

The devaluation of the US dollar (the global currency for oil exchange) is one of the many factors that has driven the price up as the story said ~$1 since last year.

The Federal Reserve is responsible for this, largest contributor…. but I doubt anyone who is not already aware of that will read more then the fact that it is Obama’s fault.

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for pointing the finger in the right direction.