Tapping oil reserves won't have much effect

by AFP

Opinions Apr. 05, 2012 - 06:42AM JST ( 4 )

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gaijinfoApr. 05, 2012 - 02:47PM JST

Tapping into reserves may not help, but drilling into many of the vast resources of oil that are out of reach due to questionable environmental reasons sure will.
1

zichiApr. 05, 2012 - 02:58PM JST

Time to get rid of the old smokey internal combustion burner!
1

napoleancomplexApr. 05, 2012 - 10:48PM JST

Speculators on the futures markets are a huge reason why prices have gotten out of control! I've read reports where an estimated $30 - $40 on the price of oil is due to speculation and some governments are trying to introduce legislation to limit the amount of contracts these groups can hold.

Also, I've read that some refineries on the US East coast have been shut down. These refineries use the sweet light crude which sells at the world price.. whereas refineries in the west use the heavier stuff, like from the tar sands and at a cheaper price. Its causing artificial gasoline shortages across the US and Canada, driving the prices up
1

Green PandaApr. 06, 2012 - 10:04PM JST

Two words: Thorium Reactor.