D
dee_kay
Guest
Will governments penalise oil companies and force them to close down?
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What will happen if oil companies extract all of the world's oil resources?
B
benthic_man
Guest
Oil becomes more expensive to extract as it becomes harder to find. So, if oil were to become scarce, the price would slowly creep up, driving innovation and investment into alternative energy sources. Oil is popular because it's cheap. If it became expensive, it would be too valuable to burn as fuel, and the only users would be industrial manufacturers, who use petroleum to make chemicals used in plastics and other synthetics, as well as fertilizers and such.
There is good evidence that at some point, oil deposits will begin regenerating at a faster rate in deep locations. This is because there is more than one way for oil to be created... it's not just dead plants and compressed dead dinosaurs. The evidence for this is still being evaluated, but it would imply that oil is not necessarily a completely non-renewable resource.
There is good evidence that at some point, oil deposits will begin regenerating at a faster rate in deep locations. This is because there is more than one way for oil to be created... it's not just dead plants and compressed dead dinosaurs. The evidence for this is still being evaluated, but it would imply that oil is not necessarily a completely non-renewable resource.
W
Waas up
Guest
If we look back in history, pre oil the earth was very volatile. With less oil to cushion ta tonic plates the earth would be uninhabitable.
K
katlanta
Guest
The general theory consensus is that if there is no more oil, then the world will not be able to operate. It's based on the basic economic rule of supply and demand. The scarcer the supply, the greater the demand. So if there is no more oil, the reserves we have on hand will be the first tapped into...they will gouge the prices or possibly the government will cease distribution to the general public completely and just use the last of the oil for government operation. This is why it has become so problematic that the entire world is run on crude oil/fossil fuels. This is also why there has become increased awareness and a race to discover "alternative energy" sources.