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Now now, that's not relevant, and you know it. Naturally I am referring to what can be extracted economically.
by b112 3y ago
Now now, that's not relevant, and you know it. Naturally I am referring to what can be extracted economically.
- Retric 3y agoAhh, but once you accept there’s economic limits the economies of scale define those limits. The rise of EV’s will therefore strand more oil as smaller scale processing/distribution is less efficient. Being local to you doesn’t help because oil is transported to refineries before useful products are sent to you. The crash continues to strand more production as refineries shut down.
- b112 3y agoThe future is as it is, now is now. And local means closest viable, regardless. It would seem that preventing local production and extraction for political reasons, would be a mistake. It would also seem that preventing pipelines would be too. This makes sense. People are trying to stop a thing, via 100 paper cuts, instead of just stopping it. Meanwhile, this results in suboptimal production, which inceeases pollution.
- Retric 3y agoOil in the ground isn’t rotting, but it is finite so the logic isn’t so obvious. Especially because new local drilling has minimal impact on wholesale prices. If you expect future prices to spike then the wise choice is to avoid drilling until you can maximize gains. If you expect future prices to remain unchanged then the wise choice is to avoid harming your local environment and have other countries despoil their own. Only if you expect future prices will tank does drilling become a good idea.