ice445
Well-Known Member
- Joined
- Apr 13, 2020
- Threads
- 34
- Messages
- 6,183
- Reaction score
- 7,356
- Location
- Salt Lake City, UT
- First Name
- Ryan
- Vehicle(s)
- 2020 Mustang GT 6MT
Doesn't actually matter how much oil exists, there's a simple equation you have to follow. If it costs a barrel of oil to extract one, you're done. And economically it gets really challenging well before that. In the beginning it was like 20:1 in favor, now its already way lowet than that. I mean I guess you can hope some fancy technology comes around that makes complex extraction easy, but oil reserves in the middle of nowhere already have a severe logistical penalty when it comes to extraction.We have been told for decades that there is just a finite amount of fossil fuels in our ground. And once it' s gone and gone for good. So yes, of course, people believe it.
But, that's no longer really the issue. As you mentioned new technology has found more reserves of fossil fuels. The issue today is getting the oil companies around the world to spend the billions of dollars to find, extract and refine those reserves. With the continuing push for electric powered vehicles it seems unlikely that they will be willing to take that risk.
Sponsored