You guys probably ought to wrap your minds around a fundamental truth:
There is no law of nature that says there is going to be enough oil.
That picture above of all those derricks . . . suppose they did their jobs and it’s now empty. Oh, and before you jump up and wave bullshit about abiotic replenishment of oil wells, get out your checkbook and put your money where your bullshit mouth is.
Go buy some empty oil wells in Illinois. Or Pennsylvania. Pay top dollar for them. Then go see if they replenished.
Oil production Illinois year 1985 78000 barrels/day
Oil production Illinois year 2016 25000 barrels/day
OIL FIELDS ARE NOT INFINITE. THEY GO EMPTY. And only about 1/4 of exploratory wells ever drilled find anything at all.
Stop with the pollyanna abundance forever crap. Russia has the oil. We don’t. And we’re going to lose because of it.
It sounds like you believe in “Peak Oil” theory. That was big back in the Fifties and Sixties when they thought we would run out of oil by 1990.
Nothing is infinite, but because it hasn’t been found yet does not mean it cannot be found and obtained. It isn’t that complicated.
Or, put another way, we’re limited not by the amount of oil in the ground, but by how inventive we are about reaching new sources of fuel and how much we’re willing to pay to get at it.
It costs money to look for oil. When demand is low, prices go down, and so does oil exploration. When demand is high, prices go up, and so does oil exploration.