Von
Active member
You my friend don't know much about oil or oil production, so i wouldn't being talking about it if I were you. For starters oil shale is cost effective to produce once oil gets over 70 dollars a barrel, there has just never been a time in our history that oil companies have found it very profitable to extract oil from shale. But now with prices above 100$ a barrel and new technological advances it is very cost effective to find and extract oil from shale. This being the case huge oil shale reserves are starting to be tapped like the Peonce Basin in western Colorado (which holds over 5 trillion barrels of oil more oil than has Saudi Arabia has ever had). You're also not taking into account the huge amounts of oil that is held in oil sands in Alberta, which currently produces 2 million barrels a day and shows no signs of slowing down.
but seriously NS talking Oil Economics is like talking politics, very few people on this site have any real knowledge about either.
but seriously NS talking Oil Economics is like talking politics, very few people on this site have any real knowledge about either.