Originally Posted by Jakarta Expat
The way my firend explained it to me was with that attitude it is looking after today and tomorrow. These guys are thinking 50 75 & 100 years down the road......burn our nieghbors oil first, we will pump ours once their runs out. The consensus was that until viable replacements for oil are here that oil stays in the ground for the future.
Now if they actually did this instead of paying it lip service we might be better off. But the fact remains that we have already exhausted our cheap, large reserves, and as soon as crude prices rise enough, it will make sense for the oil companies to exhaust every resource we have. They are not thinking of the future, except how to continue to pay off the governement to promote hydrogen so they can continue to exploit fossil resources. Bottom lines, quarter by quarter, that's how they work. No national interests or long term reserve preservation in mind here.