To Oil or Not to Oil

[denuseri]

Add to that that we have allready reached peak oil aquisition some time ago in most parts of the world and the "planet makes its own oil as if by magic all on it's own" hypothesis doesnt have a leg to stand on.

[Thorne]

Add to that that we have allready reached peak oil aquisition some time ago in most parts of the world and the "planet makes its own oil as if by magic all on it's own" hypothesis doesnt have a leg to stand on.

I don't know about the "peak oil" story. A lot of that has to do with drilling bans, especially by the US, which don't allow the oil companies to establish new resources, raising the price of existing reserves. And the bans on refineries which limit the amount of gasoline which can be produced, thereby inflating the prices.