crw,
One of the biggest new developments/sources are oil sands in Canada. I don't know exact numbers. I heard the number is around $30/barrel to produce. Note that this is the current cost when they only started processing sand on the surface. In the future it will get more expensive.
Older fields require increasing investment to squeeze out remaining oil, so again higher cost of extraction. Hence for now average cost (excluding oil speculators and other crap) will be $30ish or $40ish per barrel.
Sure oil won't just go away over night. However, the costs can stay high and keep rising. It could push out a lot of marginal use including some types of transportation needs.
Hybrids are a stepping stone. Eventually electric and other renewable energy forms will dominate. Diesel is interesting as it is close to some bio-fuels that are renewable. Many other parts of the world are looking at and experimenting with other fuel types.
One of the biggest new developments/sources are oil sands in Canada. I don't know exact numbers. I heard the number is around $30/barrel to produce. Note that this is the current cost when they only started processing sand on the surface. In the future it will get more expensive.
Older fields require increasing investment to squeeze out remaining oil, so again higher cost of extraction. Hence for now average cost (excluding oil speculators and other crap) will be $30ish or $40ish per barrel.
Sure oil won't just go away over night. However, the costs can stay high and keep rising. It could push out a lot of marginal use including some types of transportation needs.
Hybrids are a stepping stone. Eventually electric and other renewable energy forms will dominate. Diesel is interesting as it is close to some bio-fuels that are renewable. Many other parts of the world are looking at and experimenting with other fuel types.