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We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.

Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.

We are going to have to import more of our oil. Period.

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The True Cost of Oil: $65 Trillion a Year?
Consumption; Demand; PricesQuick: What's the most common criticism of renewable energy?

Right: That it's not economical. Too expensive compared to cheap oil, coal, natural gas, and nuclear.

And that's true, if you have a calculator that can only add, and you don't count a bunch of stuff.


But that's not the way we do math around here. We like to figure out the real cost of things. It's the only intelligent way to invest!

Let's try adding up everything for once, leaving nothing out, with no "externalities."

Energy and Capital

Posted on Saturday, June 30 @ 13:01:05 PDT by Leanan
 
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Most read story about Consumption; Demand; Prices:
Forget About Cheap Oil

 
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