All the while, America’s oil is not accessable to the American people. It’s like having a car and they pass a law that you says you can’t drive it.
They have been playing the peak oil game since the 1920s. But they are constantly being surpised because we reall—just don’t know as much as the speculators assume. The Big East Texas Field, for instance, was NOT thought to be possible. Furthermore, we don’t know for sure how petroleum is formed. Whether there is a fixed amount from the deposit of organisms or whether it is formed from minerals. As far as the development of probable resources, ie “known” fields such as those in Alaska, the Big Companies may think of these as reserves they are waiting to tap when the moment is ripe—for them.