Quote:
Originally Posted by mikeSS
that is true. but i just hate the fact that we have soooooo much untaped oil here and in other places around the world that we just dont use. i realize that drilling for more oil is only going to help us for so many years. but right now in the world economy we need cheap oil to fully recover. and the world needs us to recover. we are one of the top leaders of the world and we can not fail. we just got tax beaks, if we had cheap oil that would be even better for us and the world
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I don't think you realize the cost of drilling and producing many of the crude oil deposits that are in the US. We have drilled and produced most of the easily accessible oil. What's left is the stuff that takes a significant amount of effort, time and money. The only reason these wells are economically feasible to drill are because of the increase in the cost of crude.