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High Oil Prices Make Renewable Energy Viable - But Also Grows The Oil Supply

People talk a lot about alternative fuels being more viable with oil at such high prices. It also, however, makes other, more exotic, fossil fuel extraction techniques viable. This piece in the UK’s Independent outlines how oil reserves are understated because certain known fields are too expensive to extract at this time - and therefore are excluded from oil reserve projections (an important point that I would wager that many investors don’t understand).

The risk for green investors (and the environment for that matter) is that, if true, tapping oil reserves such as these could grow oil supply over current projections (even if its at these current high prices) - driving out the peak oil scenario longer than anticipated by Wall Street. (This is the kind of stuff investors and analysts miss all the time).

Cool Chart from Oil and Gas Journal Too…