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The American Conservative Case for Electric Vehicles (5 Reasons That Are Not The Environment)

Given the recent election results, it's very likely that there will be sweeping legislative changes in the areas of energy and environme...

Monday, November 18, 2013

Carl Pope: Breaking Oil's Monopoly: Easier Done than Said

Carl Pope: Breaking Oil's Monopoly: Easier Done than Said: "Global oil demand is 90 mbd. Of that, 80 mbd is cheap -- $30 or less - conventional oil, mostly from OPEC. About 5 mbd is moderately priced unconventional oil - shallow off-shore, light-tight US oil like the Bakken, or secondary recovery from depleted fields. This unconventional oil costs between $30-$60/bbl.

The final 5 mbd of demand breaks the bank. To supply it, the oil industry taps extreme oil fields in the remote Arctic, the ultra-deep ocean, or heavy tar sands in Canada"