until the last barrel is squeezed

there's money to be made



New Oil Field in Gulf May Yield Billions of Barrels
NY Times, September 5, 2006
By JOHN HOLUSHA

"The company said it found the oil producing formation about 20,000 feet below the bottom of the Gulf, with the well drilled to a total depth of 28,175 feet."

Wow, almost 6 miles below the surface!

“'More than half a dozen world records for test equipment pressure, depth and duration in deep water were set during the Jack well test,' Chevron said."
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With the news, oil was at $68.38 a barrel. So that's, $68 times billions. With those insane multipliers to be had a mere 6 miles below the surface, I don't see big oil allowing any alternative fuel vehicle to take over for quite a while.

They'll continue to pull it out of the ground until it costs more to extract it then they can sell it for and even then the federal government will probably grant subsidies to the oil companies.

Life becomes a scramble for what's left or a push to develop alternatives.

You either see these corporations as villians or saviors.

The problem is not a shortage of oil or dependence on foreign oil. The problem is the use of oil.