On Sun, 26 Jun 2005 16:06:26 -0400, pawn > wrote:

>rw wrote:
>> WindsorFox[SS] wrote:
>>
>>> rw wrote:
>>>
>>>> RichA wrote:
>>>>
>>>>> Do we really want this kind of thing on
>>>>> the road?
>>>>
>>>>
>>>>
>>>>
>>>> We need something because, in case you haven't been paying attention
>>>> to oil prices, gasoline is getting scarce,
>>>>
>>>
>>>
>>> HAHAHA!!! Who told you that, Algore??
>>
>>
>> No, the market tells me that. The price of oil recently hit a record of
>> $60/barrel. Some knowledgeable observers are predicting a near-term
>> price of over $100/barrel.
>>
>> Have you ever heard of supply and demand?
>>
>
>Two things to learn he
>
>http://en.wikipedia.org/wiki/Tar_sands
>
>1. The remaining portion of the world's proved oil reserves is around
>1.75 trillion barrels. Global demand is currently 75M barrels a day.
>That gives us 64 years of oil supply, if we only count conventional oil,
>and conservatively ignore new discoveries. Of course, once we consider
>growing demand, it'll probably be more like 40 years or less, but,
>
>2. conventional oil reserves are dwarfed by non conventional reserves,
>most importantly oil sand reserves, which are becoming more and more
>viable every day due to the higher price per barrel, but more
>importantly, new investment and improved technology for extracting oil
>from tar sands.
>
>The point? We won't be running out of oil in anyone's lifetime
>currently able to read this post.
>
>

No, we won't. But if the greedy industry refuses to up refining
capacity, we could see steadily increasing prices for years.