Your last comment about extraction prices proves your ignorance. Currently deepwater Gulf of Mexico extraction cost is between $30 and $35 a barrel. West Texas fracking price is under $30. Prices are spiking for two reasons. First the rebounding transportation is increasing demand. Second Biden’s cancellation of the Keystone Pipeline and oil leases portend reduced access to new oil. It’s simple economics, make or project scarcity and prices rise.
- That oil extraction costs are steadily rising as known deposits are depleted is a simple acknowledged fact. Analysts predict that by 2040 (i.e. not so long from now) the extraction cost of one barrel of oil will be at least half of its selling price. - That cost I just mentioned doesn't even include the environmental impact of extraction, including damage to water supplies, forests, etc., nor does it include cleanup costs of those pollutive impacts. - The "Keystone pipeline" mantra is just your typical Republican ruse, meant, of course, to profit the oil industry at the expense of everybody else. That pipeline has nothing to do with EXTRACTION, would have been a massive environmental risk, would have created fewer than 50 permanent jobs, and would not have even increased oil supply availabilty to American consumers because the entire point of the pipeline was to move the oil to port for shipping OVERSEAS. - Energy demands, of course, increase energy prices, and almost no one believes that current oil supplies can keep up without big price increases that would, in turn, diminish consumption and harm the economy. The answer is obvious: we desperately need big investments in alternative, cleaner sources of energy before our economy and ecology crumble. That's what Joe Biden plans to provide, but Republican obstructionists, in the pockets of fossil fuel companies, don't care that they're harming you in the long run because they're exploiting their short terms in Congress for easy bucks.
How can you be so wrong so often. The oil form Canada was going to be refined on the gulf coast... Now its going to be refined in a country with less environmental standards than ours, thus polluting the planet more; as you would say.... The pipeline was supposed to handle over 800K Barrels per day. That's a lot more than 50 jobs my guy. that is an entire refinery plant worth of oil and in some cases, 2. Louisiana processes just under 4 million barrels per day through 17-18 refineries. Can you figure it out? Louisiana was not going to get all of it, but Louisiana lost jobs. This was near the same as the heavy crude the US already has to import from south America making US stronger. Though, thanks to Xiden, we never had the opportunity....
Also, since you are so against petroleum, go a head and turn off your phone and computer. They wouldnt be possible without drilling. Don't use plastic. Don't use Amazon. Basically, go to the woods and figure it out. That way you wont be some hypocrite crying about the climate you are actively destroying by using day-to-day products.
Can't believe I am saying this but please don't embarrass yourself any longer. Please go back to the climate thread where you know nothing about earths climate dynamics but you know less than nothing about energy and economics.
@Rex debating the details with you is useless. You ignore facts a take speculation to the nth degree. I will say this about you. You’re in essence a Malthusian. You see disaster around every corner. I have faith in the infinite ingenuity of man. Yes we offer dig ourselves in to a hole but have always not only found a way out but rise to ever greater heights. The evidence is right in front of your eyes…if you only open them. In many ways I feel sorry for you because you’re never happy.
I'm not "against petroleum". I'm in favor of investing in other energy sources with the goal of phasing it out. Your strawman doesn't impress intelligent people.
Intelligent people arent wrong as much as you are. You can’t phase out petroleum. Petroleum is more than energy and there is no substitute.
