The Oil Boom Will Only Last a Decade - Then What?
Oil
is fundamentally a depletable resource – once a barrel is extracted
from the ground and burned, it is gone. Nevertheless, world oil
production has continued to increase steadily for the last century and a
half. Most economists attribute this to technological progress. Each
year our methods for finding oil become more sophisticated, and our
extraction methods more efficient. Unquestionably this progress has been
quite remarkable, with oil now being produced by wells that begin a
mile below the surface of the sea and proceed for several…Read more...http://oilprice.com/Energy/Crude-Oil/The-Oil-Boom-Will-Only-Last-a-Decade-Then-What.html
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