“The price is still right but it might not be for long.”
Oh it won’t be for long for sure. The Saud’s will make certain the prices shoot right back up to provide them their financing of World terror along with other Islamist countries.
Right now they are just putting down the competition long enough to make them think twice about investing in competing with them again.
Well, that saves dinosaur in my back yard. I was going to kill the darn thing to create oil for the next generation.
Now I have to feed it.
$2.769/gal here in southern DE.
Should be at least 20 cents cheaper based on the RBOB of gasoline the past ten days.
It is my belief that oil is being constantly created by natural processes in the earth.
So ... in a way, one could say we will never run out of oil.
However. I do believe oil will become harder and more expensive to extract over time. Unless a system similar to crop rotation is employed.
I was interested in what it said about the amount of natural gas we have. With all that gas,I have to wonder why so many home heating bills are so high. From what I can see,the gas price for what is used is cheap enough,but then they add on every little item to the itemized bill,such as the CEO’s 2nd wife’s nephew’s 401K.
Oil (2009)
U.S. crude for February (2009) delivery ended the day in the black, rising $2.23, or 6.1%, to $38.74 a barrel in New York.
http://money.cnn.com/2009/01/20/markets/oil/index.htm?postversion=2009012009
Gas (2009)
Regular was $1.84
Diesel was $2.27
http://www.consumerreports.org/cro/news/2009/01/average-gas-prices-january-26-2009/index.htm
Yes, it went to $4.00 under Pres. Bush - but that was with a war in Iraq (major oil exporter, right?) and the US involved in 2, 3 wars?
We are not at “peak oil” - it’s a myth, just like man made climate change/global warming.