There’s a finite amount of it, but we won’t ever use it all up. Oil deposits differ in how easy (and therefore cheap) they are to extract. As the easy deposits run out, we switch to more difficult deposits, the price goes up, and eventually the price will be higher than it is for other energy sources despite there being plenty of hard-to-extract oil still left in the ground.
eventually the price will be higher than it is for other energy sources despite there being plenty of hard-to-extract oil still left in the ground.
When that happens the oil companies will lobby to get special treatment and be subsidized because they’re “too big to fail”, and everyone depends on oil.
There’s a finite amount of it, but we won’t ever use it all up. Oil deposits differ in how easy (and therefore cheap) they are to extract. As the easy deposits run out, we switch to more difficult deposits, the price goes up, and eventually the price will be higher than it is for other energy sources despite there being plenty of hard-to-extract oil still left in the ground.
Almost, there’s just 2 corrections:
When that happens the oil companies will lobby to get special treatment and be subsidized because they’re “too big to fail”, and everyone depends on oil.
The second correction is that that has already happened: https://en.wikipedia.org/wiki/Fossil_fuel_subsidies
Or, like Canadians Tar Sands, government will heavily subsidize it so it could be sell