Quote:
Originally Posted by Mule
Russia is giving oil companies tax breaks so they will do more exploration & increase production. Now wtf is wrong with this picture?
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Actually Russia's been pulling a huge bait and switch with outside companies on oil and energy production. They get the companies in with tax breaks and then after production starts, they fine them to the tune of 100's of millions of dollars and threaten prison time to company officials for supposed environmental issues.
If we wait for the rest of the world to use up their oil reserves and then tap ours when the cost is even higher we'll make out like bandits. Of course some new energy source could develop making oil less valuable, but I think that's unlikely in next 50 years or so.