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**Joe[_1_]** · September 7th 06, 03:37 AM posted to rec.autos.makers.ford.mustang

(Brent P) wrote in news:-
:

> In article >, Joe wrote:
>> (Brent P) wrote in
>> :
>>
>>> In article >, Mark C.
>>> wrote:
>>>> It doesn't mean the price of gas will go down. It may go up slower
>>>> though.
>>>
>>> There's more than enough oil in the world. The problem is
artificially
>>> created by constricting gasoline supply and oil that remains off the
>>> market. Basically it's a market that runs on the hairy edge by
design
>>> so any burp in world events or weather or just plain neglect sends
>>> prices higher. Why by design? Because that's how profits are
maximized
>>> and it's not like anyone else can just get in on the game with all
the
>>> regulations.
>>
>> a) The find is good, but it's a drop in the bucket compared to what
>> America consumes.
>
> As I heard it, it's about a 50% increase in US reserves.

Yes, and our reserves in general constitute a drop in the bucket
compared to what we consume. I can't recall the figures, but I read a
while back (around when Dubya was considering opening up more of the
reserves to consumers) that if we relied strictly on our reserves, we'd
be out of oil in a matter of months.

>> b) I agree that there's plenty of oil to go around for a long time,
but
>> it's getting more costly to locate, extract, and refine for consumer
>> use.
>
> All that matters is profitable. at anything north of US$40 a barrel
and
> there is glut of oil available.

Indeed. And while the oil companies post astronomical profits, we just
keep on paying. I hope I get to see the person who brings a truly
viable alternative fuel to the masses in my lifetime. That person will
make Bill Gates anonymous.