As long as we are using more oil than our wells that are running TODAY are producing we are one way or another buying terrorist oil.
New production takes 10 years from approval to market. = useless
Tho I have to admit I am intrigued by the idea of using laser cutting to recover more oil in existing sites. It uses alot more power but it is fast and does not contact the surface. They are saying it could cut down drilling on land by a third.
You see despite the shrill calls to give the oil companies whatever the hell they want. They can and are evolving on their own. And boatloads of new tech investments are slowly but surely starting to reduce the need for oil. Of course my favorite is Algae oil. But things such as replacing oil plastics with american grown bioplastics are good investments as well in my opinion.
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