Re: Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil Oil 25
"The point is that, as long as oil is cheaper, it'll still be used, regardless of cost. We'll just pay that cost."
Thats what opec thought in the '70. If you mean cheaper compared to other energy resources or labour, that is determined by ROEI, so proving my point!
Maybe its easier for you to go step by step. Take as a first step the direct cost into account to produce oil. In the early days it might have been 1 needed to a couple hundred gained, as it came out of the ground by itself at many places. Imagine that would be 1 to 2. The total amount of TR barrels will be the same in both scenarios.
Examples that might increase ROEI:
Efficiency of oil usage
Efficiency of transportation
Efficiency in production or refinery
New discoveries of fields with a high ROEI
"I literally can't even tell what you're trying to say or what you disagreed with. "Without it...." Without what? Without oil? What scenario is that? What are you talking about?"
Without "these energy resources".
The bottom line is the total amount of barrels are not that important in this debate. Let me give you an example. You could produce tons of bio-oil yet gain almost no economic advantage. But the total amount of barrels produced will increase (shortly, as it is an economic disaster).