There is a reason Bush has been ignoring oil conservation, and this it it. There is plenty of oil to go around, for at least another 100 years. Next time you read anything about peak oil tell them simply you haven't including oil shale tar sands etc. Lack of oil is not a problem, pollution, cost of oil, global warming are problems. So don't bother with books like the long emergency, its just written by a person looking at a limited set of facts.
India has oil reserve for next 100 years
NEW DELHI: India has enough oil trapped in shale and coal deposits in Assam and Arunachal Pradesh to produce 140 million tonnes (mt) of oil per year for 100 years.
This is the view of Chudamani Ratnam, former chairman and managing director of Oil India, and other OIL geologists. If so, India could become surplus in oil: its current consumption is around 110mt per year.
The catch: extracting oil from shale is expensive. Back in 1990, Mr Ratnam and his fellow geologists estimated that oil from AssamÂs oil- shale and coal formations would cost around $30 per barrel.
That was above the world price at the time, and therefore uneconomic . But now that oil has crossed $60/barrel, the idea suddenly looks profitable.
However, petroleum experts are still divided on this. Experts in the US reckon that extracting oil from oil-shale is profitable today at $40/barrel. Yet, very few companies have entered this field for fear that the price of oil will drop below $35/barrel.