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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (312)	6/12/2008 8:39:11 PM
From: Road Walker	Read Replies (1) \| Respond to of 86355

If the oil costs to much to get at now, it may not cost to much to get at in the future, with either higher prices, or better techniques and equipment, or both. If that's the case, we will be in a world of hurt... If recovering the oil is sufficiently profitable than it will be recovered. If doing so produces little or no profit than it probably shouldn't be recovered. "Use it or lose it" doesn't make a lot of sense as a general policy. General policy should be to get off oil as much as possible. It's a dead end road. Even if US vehicle based demand decreases, other sources of demand will go up by a larger amount. If the US market shrinks the oil will be sold elsewhere. The world use of oil isn't going to significantly and durably shrink any time soon. The US uses 25% of world production... so we have an oversized impact on consumption (and the price at he margin). As the largest vehicle market in the world, if we significantly increase our gasoline efficiency standards most of the world will follow as a result of mass production (of parts and end unit). And even if world use of oil DID significantly and durably decrease, than it truly isn't worth it to sink a lot of money only to bring oil on the market 5 to 15 years later when demand is low. Point taken and agree. And I think that's why the oil companies are reluctant to drill existing leases. Deep off shore drilling isn't cheap, and they have probably done most of the cheaper stuff. The answer is efficiency. Oil is today's gold... we need to treat it with respect. We need to increase the fleet average dramatically. We are transferring wealth overseas every day. It's a nightmare.