Originally Posted by
SideStickMonkey
If by lack of production you mean refining capacity, you would be correct. There’s plenty of oil in the ground that we have access to, it’s the lack of ability to refine it that’s the choke point.
Yes refining capacity is a bottle neck, and those plants are specific to the type of product to be refined from the crude, and I think to a degree on the type of crude to be refined.
There's some nuance to
plenty... it's not by grandad's standards, using OG production technology, we'd most likely be past peak oil already. A lot of the available reserves require advanced techniques and technology, which is only viable at a certain price point. We'll never see $20/bbl again, unless it's a temporary glut due to some big economic disruption.