Wednesday, February 24, 2016

What's Up with Oil Prices?

Over my 30+ years in education, we always taught that non-renewable resources were not replaceable.  Once they're used up, they're gone forever.  So this battle of the oil barons has me all confused.  Oil is a non-renewable resource!

I understand that some of the world's oil producers are selling oil at fire sale prices which is lowering the price of oil globally.  More than 20,000 Albertans have lost  their jobs because the companies they worked for say that they can't keep them on and make a profit with oil prices so low.

Every day we use more and more of our world wide oil resources but there's a finite amount of oil in the ground!  One day we'll run out!  One day the Arab states will run out of oil. Venezuela will run out of oil. Indonesia will run out of oil.  Russia will run out of oil.  And even Canada will run out of oil! So, why the low prices? 

Don't give me that supply and demand crap, either!  I repeat; the supply of oil is extremely limited and the demand continues to rise.  You cannot conserve oil by selling more of it at extremely low prices!  I think some of these oil producers need to wake up and smell the coffee.   

1 comment:

  1. I think water is a more precious commodity then oil. You can live without oil but you and every thing else are dead without water. Only 2% of this planet is fresh water that you can drink and everytime u desalinate u add to the global problem of climate change and fossil fuel emissions. We use water for manufacturing, agriculture (livestock & crops), personal drinking and pretty much every other thing. If oil disappeared humans would still exist except every sick person would die. But those that didn't would grow food, light fires, ride horses and be able to live. Now if water disappeared WE ARE ALL DEAD! Let's get our priorities straight ppl. I choose water over oil any day for a green and sustainable planet. I would rather have a clean planet without the oil ruining my water supply. Now anyone who wants other then that for a few bucks now doesn't care about their kids or grand kids future imo. And anyone who can't see this also got blinders on. Written by Nadia Cerato.