Here's an interesting related question: Does everyone still believe that crude oil comes from dinosaur remains?

How many trillion barrels of oil have we pumped out of the ground? How much energy is stored in animal tissue vs. crude oil?

Seems like an awful lot of dinosaurs if you ask me.

 

I never believed that nor have I ever heard it said seriously that dino remains were the source.

Massive amounts of vegetation were supposedly the source. Think the tropical forests of the Amazon folded under the ground in some geologic or cosmic catsasstrophy....

 

They've found a bacteria that lives in extreme conditions of pressure and heat - from what I understand, this bacteria has something to do with the oil creation process and that they have simulated this process in a laboratory somewhere... I guess this bacteria feeds on all that dead stuff that gets folded underground...

 

I have read articles that are claiming that the oil wells should have been totally drained, and that there is belief that the oil continues to be produced at a rate faster than previously believed. Not sure about it, but they claimed there were wells that were once thought dry to have oil back in them.

Scientists Prove Abiotic Oil Is Real!

 

I heard something about this recently. Thanks for the link. Interesting....

 

Who knows? We can only guess but that doesn't solve the prices with oil. They are going up now. Yesterday it was like 3.70-3.80 something and now it has jumped up .10 cents over the night.

 

Up to 4.55 and 4.59 here at 76 and Chevron in Pasadena.

 

Jesus, well yall Californians make more money than me anyways. LOL

 

It's worth remembering the cheapest way to move oil is supertankers in most cases, so countries which produce oil for export in some regions may import it into others. Crude and refined products are moved where expedient.

That's why it imports from the Gulf oil states. Since the US is forced by the global market to protect free flow of ALL oil, we have the amusing situation of the US military protecting oil flow to China through the Strait of Hormuz.

The Chinese play pretty good hardball:

China is trying to force Iran to reduce oil price | The China Times