Russia takes over as #1 oil producer, according to OPEC

[opebo]

No, the overall long term trend for oil production will be downwards from now on, though Russia is the last fronteir for this sort of thing.   

Also it is absurd to suggest that the minute areas of the US where oil exploration is banned contain enough oil to make a significant difference in american production.

[opebo]

But what about the tar sands of Alberta? When we figure out how to extract oil from those, which is more about finding a cheap way to do it, they have enough oil to keep us supplied for another 500 years, or something like that.

Actually there are much nicer tar sands in Venezuala, Colin.  But anyway, such things are very expensive.

[opebo]

But what about the tar sands of Alberta? When we figure out how to extract oil from those, which is more about finding a cheap way to do it, they have enough oil to keep us supplied for another 500 years, or something like that.

Actually there are much nicer tar sands in Venezuala, Colin.  But anyway, such things are very expensive.

The Albertan ones are larger. That's why they are being coveted more by energy firms. Of course they are now very expensive that's why they are still researching for cheaper ways to extract oil from tar sands. I don't doubt that they'll come up with a solution, necessity is the mother of all invention and money making is the father.

The Venezualan ones are enormous, nearly as big as the Canadian ones.  The reason the Canadian ones are being developed is the relatively advantageous political situation for corporations there.

[opebo]

And to get independent of Arab oil we start buying as much from Russia as we can. Kick the Arabs and their oil to the curb as fast as possible.

Haha!  What a ridiculous idea, masterjeddy.  Their oil is indispensable.  Even if 'we' buy from the Russians, it doesn't change the fact that the loss of middle east oil, or even a significant fraction of it, would collapse the world economy.