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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: mistermj who wrote (175843)	11/26/2005 2:52:55 PM
From: bentway	Read Replies (2) \| Respond to of 281500

"Oil reserves are a function of the amount of oil in the ground, and the price of oil. Price determines how much you would spend to get that oil out, so reserves increase when the price goes up." This statement is idiotic. Oil reserves are a finite resource, and DON'T magically increase due to demand. There's a LOT of oil locked in oil sands, etc., but not an infinite amount. America's economy in particular has been built on CHEAP OIL. The Chindian economies are being created on expectation of ever more expensive, decreasing oil supplies.