Originally Posted by
rickair7777
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.
That is true. There are only certain type of refineries that can deal with oil shale for example.
Yes, cheap extraction is not what it once was. The technology is there, the oil is there, it’s how much profit do the oil companies make. Our current fuel prices have more to do with international influences, I’m looking at you OPEC, than it does domestic policy.