You also have to consider sunk cost, I believe the break even price of a large offshore well is oil at $100, I've heard people in the oil patch say $140? That ties into it taking more energy to extract than the energy the oil supplies. A lot of it is all bullshit though, I trust nothing the people in this industry openly tell the public.
You also have to consider sunk cost, I believe the break even price of a large offshore well is oil at $100, I've heard people in the oil patch say $140? That ties into it taking more energy to extract than the energy the oil supplies. A lot of it is all bullshit though, I trust nothing the people in this industry openly tell the public.
I'm also somewhat open to the idea of abiogenic oil creation. If true, then oil could be found deeper in the crust and there is way more of it.
I'm also somewhat open to the idea of abiogenic oil creation. If true, then oil could be found deeper in the crust and there is way more of it.
It's true, 100%, it just takes longer to replenish itself than the rate we've been extracting. You are correct.
It's true, 100%, it just takes longer to replenish itself than the rate we've been extracting. You are correct.
(post is archived)