Oil Supply Shock

Oil companies have not built oil refineries since the 1960's they control the supply and demand of oil by cutting back production which pushes up the price. it is because of oil company greed that oil prices are so high and all thier excuses are complete bullshit. do not believe for 1 minute anything oil companies tell you about the reasons for the high price of oil

firstly there is no shortage of oil. secondly peak oil is nothing more than a scam to ensure oil companies can raise the price of oil to what ever price they like. there is an abundant supply of oil world wide moere than enough for at least 800 years. the problem is THE OIL COMPANIES.

if you are not worried about Peak Oil due to finite reserves of oil, then consider another form of Peak Oil that is caused by resource nationalism in developing nations that won't allow Western oil companies to assist with raising oil output in those places. Wars and hostile foreign policies by other nations will effectively keep oil from being produced and put on the world market. another aspect to Peak Oil, what happens to countries like Nigeria or Ven when the oil is gone ?

Peak just means the peak of production not the end of production. From Peak the cost of oil extraction increases. We hit a peak in oil discovery in 1960. But who knows about new tech and deap sea drilling.

oil is abiotic meaning it's a renewable resource - end of discussion ..

Russian Premier Vladimir Putin says research shows that Russia has enough oil and gas for itself and for Europe for the next 100 years.

hehe.. make it 20-25

Every planet in our solar system ,including Earth, has basic building blocks that are made of hydrocarbons...we'll run out of oil shortly after the Sun super nova's..

let us go , get it ! :)

i reckon, it's *total* horse shit.

everyone knows a finite supply of oil will last forever, it's basic mathematics!