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Washington Post: $1.46 on each gallon sold is new profit for oil industry 2710

The the

Many DECADES (centuries, perhaps) before oil runs out, oil production will start declining, and continue to decline at an ever faster rate. AT THAT POINT, there will be a world-wide surplus of oil refining capacity, and that surplus of capacity will grow larger every day. The best scientists in the world estimate that oil production will start dropping no later than 2013. How fast can you build ONE oil refinery? Do you think it could refine even one drop of oil before oil production starts dropping? (Highly unlikely)

Washington Post: $1.46 on each gallon sold is new profit for oil industry 2711
Nope, its just the usual journalistic silly stuff that gets the basics wrong. No it...

You are wrong that the immediate problem is a lack of refining capacity. But even if you were right on that, the problem will solve itself in a matter of a few very short years. We do NOT need to even TRY to build new oil refineries. If you really insist on throwing money at the problem though, you can rent a barge to tow trillions of dollars in cash into the middle of the Pacific Ocean and then scuttle it. That would do more to solve the oil crisis than building a new refinery.

Washington Post: $1.46 on each gallon sold is new profit for oil industry 2712
snip) Simple: All industries are heavily dependent on cheap crude oil. All new technological development is heavily dependent...

For that matter, occupying a foreign country for decades would do more to solve the oil crisis than building new oil refineries. Oh wait! We're already doing that, and it's done poo to solve the impending oil crisis. I guess we're just screwed. Oh well. -Dave




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Washington Post: $1.46 on each gallon sold is new profit for oil industry 2711 | Why do they keep calling it "unleaded" 2709