Why is nobody mentioning peak oil [0]? Seems to me that is the reason the extraction costs in the US is so high. Because the oil reserves are drying up, and it

Why is nobody mentioning peak oil [0]? Seems to me that is the reason the extraction costs in the US is so high. Because the oil reserves are drying up, and it becomes harder and harder to squeeze out the oil. They are starting to employig techniques like fracking [1] to squeeze the oil out, but that costs a lot more energy, so the produce is lower, so the oil is more expensive. And will keep becoming more expensive as the reserves dry up and the extraction becomes more and more expensive. A good resource on how this works is The Crash Course [2] from Peak Prosperity, where it discusses this in relationship with the financial and environmental factors. [0] https://en.m.wikipedia.org/wiki/Peak_oil https://en.m.wikipedia.org/wiki/Peak_oil [1] https://en.m.wikipedia.org/wiki/Hydraulic_fracturing https://en.m.wikipedia.org/wiki/Hydraulic_fracturing [2] https://peakprosperity.com/courses/crashcourse/ https://peakprosperity.com/courses/crashcourse/