US Sitting On Largest Oil Supply Ever???

[LoArmistead]

Screw oil or drilling. We need to be spending oodles (billions) on some renewable energy not "cheap disgusting" energy. Make some solar farms (what I plan to help with, when I'm done my engineering classes and degree(s)), we need electric cars, battery technology needs some help to make them even more attractive to the last 15% of people who drive REALLY far alot.

 

In the process of obtaining your degree(s), get a degree in Economics. In there you'll learn a lot about opportunity cost, economic feasibility, and moral hazard.

[kingdingeling]

In the process of obtaining your degree(s), get a degree in Economics. In there you'll learn a lot about opportunity cost, economic feasibility, and moral hazard.

:withstupid: x100!

[fire_storm]

Screw oil or drilling. We need to be spending oodles (billions) on some renewable energy not "cheap disgusting" energy. Make some solar farms (what I plan to help with, when I'm done my engineering classes and degree(s)), we need electric cars, battery technology needs some help to make them even more attractive to the last 15% of people who drive REALLY far alot.

 

Oil technology has progressed a lot and is in its mature phase we know how to drill it, refine it, and use it effectively and efficiently and its very profitable due to these factors. Know the same can't be said about for renewable energy like solar panels, wind power, battery electric powered cars, hydrogen powered cars because there still expensive to produce, we are still learning better techniques to capture renewable resources, reliably is not know because it hasn't been main stream for long, plus there's the high start up costs which often make it impossible for most people to buy it and because most people can't afford it most company's don't have any incentives to figure out ways to mass produce there renewable energy products quickly so it keeps the price of those technologies high.

 

There's also the economic factor to the old energy companies (like oil, gas, electric company) know that if we all switch to renewable efficient clean energy resources like installing solar panels on our homes or driving cars that get a 1000+ miles on a tank of gas that it could be the end of there monopoly. So they do whatever possible to stop the development of clean technologies like lobbying the government to ensure that they don't spend or give any renewable energy companies any advantages to developer there technologies or buy out the companies or people who have though of good ideas that may threaten there profit margins or lower the price of there energy product there selling so the new renewable energy resource can't compete with them.

[psycho_terror]

seems to me that in 20 years renewable energy will have substantially lowered the demand for crude oil. if cost is a major issue in the extraction of these vast reserves then after a point it will start to become less and less economically viable to drill at all.

[Puck]

Ooolllddddd news! If it wasn't for the tree huggers thinking we would be taking homes from moose(which is wrong since much of the US oil sits under barren swamplands full of mosquitos and snakes), we would have already aleviated much of our dependence on foreign oil.

 

I think a quote I read somewhere was that it seemed like it was being "saved for a rainy day" - most likely when prices rise and supplies diminish in the rest of the world .

[IVIYTH0S]

Exactly it's just greedy people wanting to make the most money, I'm embarassed to call them human beings.

What they don't get is once the arrays are up....that's it, just maintain the plants and all will be good. NO drilling or refining, just sit there for 30+years and then when the cells deteriorate than even more efficient ones will have been developed and cycle continues (not to mention all the other forms of renewables that they could also look into)