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The word "producer" is misleading. No new oil is being produced. Should be largest "Extractor." Too bad. Wouldn't it be better to buy from other countries and
by francisofascii 8y ago
The word "producer" is misleading. No new oil is being produced. Should be largest "Extractor." Too bad. Wouldn't it be better to buy from other countries and leave your reserves in the ground? In the future, once all the easy to extract oil is gone, the US will have to buy from abroad at potentially higher prices.
- 21 8y agoIt's not the US extracting (or buying) oil, it's private companies. Who can make a profit today.
- bbcbasic 8y agoEminent Domain
- lostlogin 8y agoThe US tried that - it turns out it isn’t that simple.
- gbear605 8y agoI strongly suspect that oil usage is going to drop drastically in the next fifty years, thanks to renewable energy and electric cars. While some oil will still be needed for other sources (for example, planes), it should mostly drop off. What’s the in having oil reserves that you don’t need?
- deleted 8y ago[deleted]
- bachbach 8y agoThere's a case to be made for saving these oils for later or converting them into readily usable forms but few people understand it - I expect conflating it with other topics like CO2 emissions and alternative energy. It's like how it's assumed that high quality artificial meats would replace farming of animals. Not quite - since meat is one of a 1000 products they're used for. Also true of oil.
- swebs 8y ago>In the future, once all the easy to extract oil is gone It's already gone. That's why we've resorted to fracking.