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Plenty of Oil Left

This might be so, but getting to it is another kettle of fish. We just had a frightening example of what can go wrong while drilling for oil below the ocean when the Deepwater Horizon exploded.

2009 was a big year for oil discoveries (more than 10 billion barrels in potential reserves). More to come when the arctic can be ‘tapped.’

Here are some some things to think(worry) about.

1. The oil that’s left is deep, hard to drill for, and expensive to access.

2. With the rising tech challenges comes more risk.

3. Rust. One of Matt Simmons’ sayings is ‘rust never sleeps’ What did you think happened to all those pipes?

4. Price volatility. Gotta make sure drilling is worthwhile, and consumers can still afford to buy it.

The whole world of oil is a delicate balancing act.

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