Originally Posted by mattisawesome

Many people are making dire predictions but there are many places we haven't drilled yet and many sources of oil that are still untapped. Canada has more oil than Saudi Arabia in the Oil Sands. ANWR has a ton of oil. There is alot of oil off of the east coast of Florida and don't even get me started about off shore California. There is tons of heavy oil in Colorado/Wyoming and Utah. There is also a ton of oil under the arctic shelf and the gulf is not nearly as tapped as it could be. While I respect the CEO of Shell, I find it interesting that he would ignore these many sources of oil. However, some of them, require laws being taken off the books. There are other things you guys may not know, for instance you can convert coal into gasoline/diesel/avgas/jet fuel. These plants require a high initial investment but once online can produce fuels at about $35-40/bbl. If we built some new refineries that would do alot to decrease the price but we haven't built a new refinery in 25 years. Also, if we could switch to nuclear power for electricity that would take a huge strain off of oil. I believe the free market could work if some of these restrictions were lifted and you would see many of these dire predictions start to level off. I am sorry but I wholeheartedly disagree that we are heading for a global crisis any time sooner than the next 30 years.