Not that I enjoy agreeing with BDJ, but I think his point is well made. People have been watching this happen in the computer world for at least two decades now. As technology progresses at an increasing rate, there have been examples of many companies resting on their laurels, assuming that "We've got the best out there, nobody can do better," and were bankrupt within a handful of years.
The oil companies are no different, they know that their ability to continue operating the status quo is going to become harder and harder as it becomes more difficult to find accessible forms of oil. (There are trillions of barrels of oil spread all over the globe, but the expense of turning that oil into a profitable business is almost impossible, slate oil is a great example.)
As such, because they'd rather stay in business, they're going to have to develop new methods of sustaining the energy needs of the world, or go bankrupt when someone else does. (Watch all the American car companies over the last two years as reference.)
Although I'm sure BDJ is coming from a "The Free Market Will Save You(tm)" stance, I'm coming from a more pragmatic point of view....adapt or die.
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Date: 18/5/10 15:32 (UTC)The oil companies are no different, they know that their ability to continue operating the status quo is going to become harder and harder as it becomes more difficult to find accessible forms of oil. (There are trillions of barrels of oil spread all over the globe, but the expense of turning that oil into a profitable business is almost impossible, slate oil is a great example.)
As such, because they'd rather stay in business, they're going to have to develop new methods of sustaining the energy needs of the world, or go bankrupt when someone else does. (Watch all the American car companies over the last two years as reference.)
Although I'm sure BDJ is coming from a "The Free Market Will Save You(tm)" stance, I'm coming from a more pragmatic point of view....adapt or die.