Comment Re:Why talk (Score 3, Interesting) 525
"If they can make oil using an alternate technology for cheaper than they can get oil out of the ground..."
That's a pretty big "if" if you ask me. It seems to pre-suppose that the price of oil has something to do with the cost of production. It doesn't. It has to do with the demand for it, the weakness of the dollar, and the fact that any oil executive recognizes that it's more profitable to leave as much oil in the ground as possible to ensure that demand is as high as possible without being so high that it triggers development of things exactly like this. No conspiracy, just predictable human behavior.
That's a pretty big "if" if you ask me. It seems to pre-suppose that the price of oil has something to do with the cost of production. It doesn't. It has to do with the demand for it, the weakness of the dollar, and the fact that any oil executive recognizes that it's more profitable to leave as much oil in the ground as possible to ensure that demand is as high as possible without being so high that it triggers development of things exactly like this. No conspiracy, just predictable human behavior.
