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This may be for the paranoia section, but I feel that we aren't drilling as much as we could because in 50-100 years when the world has run out of oil, and haven't converted to alternative fuel, we will be in control.
I have no doubt that a national, state run operation could face the same problems as BP. It's not like they purposely tilted the Thunder Horse oil platform... Yeah, they wouldn't need to make as much profit, but you know they would spend all of their budget in fear of getting it cut because they didn't use it all. (Their budget would come from the sale of gas instead of all taxpayers though.) Oil would still be traded on the open market since we don't control all of the oil producers, and there is a ever growing demand for the stuff.
I'm fine with out current production amount. Well, as long as it is the same as it has been in previous years. I think it is more of a demand side problem that we need to fix. And the environmentalists are actually happy as well as the oil companies at this recent increase in oil prices. So, I'm not really sure what has happened in the market to make it go up that high (read: housing speculators all moved into oil), but I don't look as crazy riding my bike to work anymore.
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