Tag Archives : oil extraction

‘The false threat of disappearing oil’ has brought about a mad scramble for renewable energy schemes, as well as imposition of ‘unnecessary and expensive conservation measures on a public already struggling through tough economic times.’ The ‘peak oil theory’ states that ‘geological scarcity will at some point make it impossible for global [...]

The world is hooked on oil, with the US as its main guzzler. America is 7.5 billion barrels a year thirsty of it, and imports more than half of its oil needs. Wars are fought over oil. The US went to war in Iraq to cordon off Saudi Arabia oil where the world’s largest oil field is now being constructed. No need for war in the Middle East now. Saudi [...]