Seems that outside of the liquid stuff, and oil sands, there’s another source – shale.
In fact, there’s more of it in shale in the US alone than in all the top current providers put together.
Let’s be clear about this. We are not running out of oil. We are running out of excuses for high oil prices. We are running out of patience with environmentalists trying to stop the drilling. We are running out of patience with high fuel taxes.
But we are not running out of oil.
Well put.
Scoopit!
You are so right! Were swimming in oil all the way from southern Canada to Minnesota! Oh wait, that’s not oil, its Shale!
How much shale does it take to produce a gallon of oil?
How much energy does it take to “squeeze” the oil out of the shale?
How much will it cost to process the shale into oil?
How much pollution will that put into the air?
Do you really think that if we process shale into oil that it will make gasoline cheaper? No, it will make it more expensive!
Nice chart by the way. Ever ask yourself who is pushing shale production? Hmmm, oil companies. Go figure.
By: Adam on August 13, 2008
at 1:47 am
Gosh, oil companies looking for new sources of oil? How dare they!!!
News flash: that’s what oil companies do, they look for oil and ways of getting it out of the ground. That’s not a conspiracy, it’s called “what they do”.
Yes, shale is more expensive now. Oil sands are more expensive now too, but at $60/barrel oil sand is still far cheaper than the price of oil is now. I am quite sure that sweet light crude can be found that is more expensive than that too if you look at undersea deposits.
However in future, new ideas will be though up which could well make these technologies much cheaper. The point is that the oil is there, we just have to work out how to exploit it.
We are not running out.
By: scrubone on August 14, 2008
at 11:49 pm