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HelicopterOff Topics › Is this true about oil?
03-18-2009 04:35 AM  8 years agoPost 21
Cambo

rrApprentice

Phoenix, Arizona

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I believe the term is energy invested/ energy returned. While most of the worlds oil has not been discovered/used it will take increasingly larger amounts of energy to suck it out of the ground. As this happens the price will go up making alternative energy sources more feasible. I agree with hootowl. We will never completely run out of oil.

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03-18-2009 12:32 PM  8 years agoPost 22
SSN Pru

rrElite Veteran

Taxachusetts

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And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
Fat chance. That oil will be sold at market price if it is ever sold.

Stupidity can be cured. Ignorance is for life!

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03-18-2009 01:38 PM  8 years agoPost 23
hootowl

rrProfessor

Garnet Valley, Pa.

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It's also true that OPEC is beginning forward looking plans to deal with a major drop in demand for oil due to alternative energies being developed. It can be a bit de-stabilizing for a rich country to lose it's no. 1 source of income.

Wolves don't lose sleep over the opinions of sheep

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03-18-2009 02:23 PM  8 years agoPost 24
SSN Pru

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Taxachusetts

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Dubai is already making plans for that by transforming it's economy from oil to luxury tourism. Hopefully the wealth will be transfered back to the West and the Middle-East can return to the stone ages.

Stupidity can be cured. Ignorance is for life!

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03-18-2009 02:34 PM  8 years agoPost 25
BJames111

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San Diego,​California

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Dubai is already making plans for that by transforming it's economy from oil to luxury tourism. Hopefully the wealth will be transfered back to the West and the Middle-East can return to the stone ages.
The only place the wealth will reach is the U.S. oil companies as they sell the oil to the highest bidder, and I bet it'll be China. The U.S. consumer will be left with expensive fuel again.

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HelicopterOff Topics › Is this true about oil?
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