Sunday, May 6, 2007

Why we'll never run out of oil

Rist, Curtis "why we'll never run out of oil." Discover June 1999 80-87. SIRS. 26 April 2007
The reason for the huge boom in gas prices was because the war going on in 1973. that was 30 years ago, and oil was selling at 100$ a barrel. however in 1999 oil has been selling for somewhere around 10 to 15 dollars a barrel. Daniel Yergin a chairman of Cambridge Energy Research Associates, states that oil is only limited by technology and economics. Also there are theories that the ocean hold trillions of barrels below the floor. The company found a field off the coast of the newfoundland area and has already begun harvesting. also in canada in the alberta region there are suspicions of 300 billion barrels. Not to mention the ratio of 1 new barrel of oil found to every 4 produced.

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