Rajesh Jain quotes WSJ's article on Mr.Doomsday of Oil, Colin Campbell:
More to the point, nobody knows how much can be gotten out of the ground. Much of the oil lies in places with volatile politics, including the Middle East, Russia and Africa.
Very interesting So the only stable oil rich country in the middle east, except Saudi Arabia was Iraq and now she also complies with the above mentioned model for Oil Rich nations! Do I smell a sinster plot? Or is it just plain greed that drives people to invoke race/religion/colour/ethnicity to create violence?
Comments
3 years 48 weeks ago, Chetan wrote:
Production is controlled in some countries like Australia, USA and even a bit in Malaysia to 'keep for future'--by way of Govt regulation even if they have surplus. There's surplus in the additional fields which are not developed--in layman's terms--drill a borehole and cap-it for future use. Australia e.g., by this method has not even opened-up by 1:20.
Also in predictable locations, we have already used the (shallow water) reserves and forcing us to go deeper and deeper in the oceans and seas. This increases costs everywhere: infrastructure installations, productions and transport (read: under-water pipelines). Hence decline in productions and raising short-term profits.
India, I personally think, has already crossed that threshold of anything close to the word: cheap. If you were to put US citizens in Indians' shoes, they'd throw a fit! and we are bearing that much right now, and at Rs43.00 it's a huge rip-off. Its more than high-time to harness H2 power and alternate forms.
3 years 48 weeks ago, balajishankar wrote:
A couple of Months back National Geographic Mag, brought out an issue titled" End of Oil". They have dissected the entire issue in such a beauitful way and how countries are fighting over it. Try getting ya hands on that one.