Considering oil forms under compression of trees and the like, doesn’t that mean there must have been a lot of life and vegetation there a long time ago? Why did all of that dissappear and only leave mostly barren wasteland?
In: 4590
So most of your points have been addressed, the big one that I think is being missed is your emphasis on the middle east. Oil is in a lot of places, why the middle east seems to rule the market is that the sandstone the oil is locked is very porous. Places like the US have lots of oil, but the oil can’t seep into vacancies as well because the rock is just not friendly. That means if you find an oil deposit in middle east you can plop a pump down and sip off it for years with high efficiency. Meanwhile in the US that same pump will lose most of its efficiency in the same year, then you need to go put more pumps down to hot different areas of the same reservoir.
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