Originally Posted by
galveston
US has ALL the oil it needs, ONSHORE
Hello gal:
No, we don't. We ARE going to run out. THAT is just so. The quicker we run out, the higher the price, the more these secondary sources become viable. But, at what price? The USCG doesn't speculate. I don't know the price, but I know it will NEVER go down from there.
At SOME price, green technology becomes viable too. It would be my bet that THIS oil will be so expensive to extract, that green technology would be able to compete on price. Consequently, I don't think many people will BUY gasoline cars when they can buy electric cars that'll do the same thing, and NOT pollute. I don't know why they would.
Of course, there'll still be some guys willing to pay through the nose so they can drive their Hummers. You know the guys I'm talking about - the ones with bull balls hanging from the differential. You might be one of 'em.
excon