IT all comes down to economics. There will always be oil on earth. It just depends on how costly it is to extract. As we deplete the easiest resources to obtain, we must find new (and usually more costly) methods of obtaining oil. An overused example (but one I'm going to use anyways) is the tar sands. They contain lots of oil, but it is very costly to extract oil from these sands. Currently, it costs more to extract than the price of oil. But eventually, these tar sands will become an economically viable resource. (and then Canada will have gigantic plots of land strip mined for this crap, making huge ugly holes bigger than cities .... but thats another story).
And the reason that this oil is so abundant is because it comes from previous life, and there has been a helluva lot of it. The world constantly impresses me.
Oh, and a lot of it is also what the Cato report says. The resource elimination is a much longer term thing.
Last edited by mofunk; 05-18-2004 at 08:15 PM..
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