How can we really be running out of oil though? Russia is untouched. Nothing comes out of Africa. Technology to extract it from the ground gets better and better. The only reason the arabian pennisula is use so much is because of terrain and a steady climate.
Jeez Karl! Neither statement is true. I'll try and find the production number somewhere, but I think Russia is the biggest oil producer in the world, and Nigeria is pretty high up there.
The most immediate problem is cost of production. The oil "gusher" is mostly fiction. It happens, but not often. Oil is being brought up from deep underground. 15,000 feet? Sometimes that is AFTER you get to the bottom of the North Sea or Gulf of Mexico! As you take more oil out, the rock bearing the oil begins to collapse. Think of the pressures thousands of feet below the ground and hundreds of feet beneath the water. The whole proce$$ is very difficult.
Also China and to a lesser extent India have gone car crazy!
Demand is going through the roof so quickly, producers can't keep up!
