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Back when I was in college, it was the first gulf war and oil was around $20 a barrel.
One of my professors was talking about shale oil and how the US has phenomenal shale oil resources but it's not profitable at anything less than $125 a barrel "and if oil is $125 a barrel we're all screwed anyway!"
Well...
https://www.macrotrends.net/1369/crude-oil-price-history-chart
(North Dakota made SO much money!)
We're not screwed.
Oil no longer being available on the market is literally what's necessary to save us
indeed, we've been told for 30 years we need to move off fossil fuels, we could have made our best effort to move away as fast as we could but instead a big ho hum and increased useage.
This is like experts telling you smoking was bad and then complaining you've lung cancer.
fuck us , maybe this will work ? here's housing for a grind to $180 a barrel
Granted $125 a barrel back then would be close to $300 today
Yeah, that's a good point. What is $125 1992 today?
$295.79
https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=125&year1=199201&year2=202602
Yes
Breakeven costs on fracking nowadays is like $60 a barrel actually, we're pretty much producing all the fracking oil we can at this point
Yeah, like I say, North Dakota was a boom town for a bit. Colorado has a metric fuck ton too.
https://coloradogeologicalsurvey.org/energy/e-fossil/oil-shale/
It's that $10 oil that made 2nd gulf war necessary. Thank god for 9/11.