The World Is Running Out Of Oil

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Posted by LLJ43 | Posted in Environment, Oil Spill | Posted on 28-05-2015

Industry analysts are beginning to see the long view on oil and the prospects are not good. While the past year has seen a decline in oil prices, many analysts embedded in the industry have noted that major oil producers such as Saudi Arabia are designing their current oil production and sale policy based on their expectation that the World is running out of oil. While this is not an event that will happen in the next two or three years, many expect that oil retrieval will start a significant decline in the next two to three decades. Many have already projected that the world has exceed the halfway point with regard to oil extraction and that anticipated increased consumption will only increase the rate of oil consumption. For this reason, analyst see a counter balance to higher oil prices exceeding $100 a barrel for crude and in the next decade or two prices in the range of $200 a barrel. Even with increased oil production by the United States, the World’s supply of oil is limited and as a fixed commodity prices are due to rise. Many see the view towards solar, gas and battery powered vehicles as the new fuel for transportation going into the next century. Development of these new forms of energy are ongoing now but not at the production levels needed to make a difference in the needs of consumers today. Sam Tabar (lab.lawyerist.com) has found that many experts feel that it would take a major collapse in the oil industry before alternative fuel sources are viewed in a much more serious light. Limited Oil Will Push Prices Up

Pipe Responsible for Oil Spill in California

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Posted by LLJ43 | Posted in California, Oil Spill | Posted on 20-05-2015

As if California doesn’t have enough to worry about with the lack of water in the state, there has been an oil spill off the southern coast. This spill is the result of a broken pipeline. Residents who live in the area noticed the smell of fumes. There have been at least 20,000 gallons of oil that have spilled into the water with the leak stretching to about four miles wide. The pipeline has been shut off, and there are efforts in place to get the spill cleaned up before it spreads farther. This is the kind of incident that makes people wonder if drilling really is safe. Keith Mann (about.me) knows that there have been accidents before, but this is a simple pipe. If it can happen this easily, then where will the next pipe break? Who will take responsibility, and will there be anyone who steps up to find other resources instead of oil?