The oil is drying up fast, we are now in recession due to high energy prices. How do we fix it ?

Read about ';Peak Oil'; . Tons of doom and gloom. Why arent our leaders trying to fix it ?The oil is drying up fast, we are now in recession due to high energy prices. How do we fix it ?
Too much money in oil.The oil is drying up fast, we are now in recession due to high energy prices. How do we fix it ?
Well considering in the last year, they have found three of the biggest previously unknown oil fields in the world.





They found an oil field in the gulf of mexico below lousiana that ranks as the 11th largest oil field ever.





They found one off the coast of Brazil that ranks 14th.





So its hard to have peak oil, when they keep discovering new unknown oil deposits.





But as to why huge money is not being spent on finding alternative sources to replace oil.





Because so far, no one has found any kind of alternative energy source that is economicly viable enough to replace oil.





We have alternative energy sources now, that could replace oil, but using them, would be like raising the price of gasoline, to $25.00 a gallon.





I don't think many people would want to switch to a new source of energy, if it meant thier electric bill would go from $150.00 a month to $900.00 a month.





Then there is the fact, that the US pays 40% less than the rest of the world for energy right now, but somehow we think it is to much.





I don't see it causing a recession everywhere else in the world.





Fusion reactors would be the best source of energy, except we don't have the technical capability to make fusion reactors right now. Fusion reactors have no ratioactive waste, they burn up all the nuclear fuel in making energy.
Your question is completely absurd! Oil is not drying up anytime soon. We are not in a recession (possibly headed towards one, but not currently IN one). High energy prices is NOT the cause of an impending recession. The high energy prices is a symptom - partly caused by the plummeting dollar.





And last (but certainly not least) - our ';leaders'; don't fix jackschit. Sorry, but they are part to blame for the problem. They have a bad habit of either creating the problems of this country, or making them worse by sticking their crooked finger in the mix.
number one is that we could could be almost totally oil independent if not for the ';greenies. China is drilling in our back door and we can't ANWR has massive deposits we can't tap. we need refineries we can't build. Everyday more oil is being made by nature because the same condition that made the vast expands of oil are still present and working. it will take many, many years for us to be free of oil due to nothing but wind power being feasible right now
We are not officially in a Recession. That requires two consecutive quarters of negative growth for the economy.


To fix our dependence on imported oil we need to speed our transition to electric, hybrid and other alternative energy cars and trucks.
Use more oil.
Peak oil is quite a few years away. High prices today are the result of speculation and greed. While I'd like to see us get off of petroleum, we have over 1 trillion barrels of oil locked up in shale deposits in this country.
Please read the dictionary to find the definition of a ';Recession';.





Please stop getting your information from the national liberal media.





You obviously do not remember real economic chaos like Jimmy Carter (D) did. He turned the economy to mush with a triple double (inflation rate, interest rate and unemployment rate all at double digit).





The oil is not drying up the EPA just will not allow us to drill for it. We cannot explore in certain parts of The Gulf of Mexico however China will partner with Cuba and slant drill the same locations. Go figure..





Edit:


con_educator is on a LSD flashback and forgot it was Jimmy Carter that was in charge when we had gas lines.
The general consensus is that there's up to 7 trillion barrels of oil on this planet, we've only used about 1 trillion.





The problem is find, extracting and refining all that oil.





In that, oil is not dried up by any means, we are not out of oil.
Gad. You've done it. You've actually managed to ask a question that is so far out in left field that Smellyfoot and I actually agree on the answer. That's never happened before, my friend.