Originally posted by willic
[As someone posted, several of the oil corporations are predicting oil peaking in 10/15 years time with a fall off on production at 3% a year after this.... So fuel prices can only eventually go one way to conserve stocks.
Bear in mind that most of the people in charge of the oil companies and in various governments are at least 50 years old. I'm not so sure the assumption that they are actually interested in conserving stocks is an overly valid one.
Think about it, the oil companies don't care. Whatever price they charge is (to an extent) absorbed by government subsidies. They don't need to conserve anything. By the time the oil runs out, they'll have enough dough to simply buy into some other industry.
The governments? Well, anyone who scraps the fuel subsidies now is dead meat at the next election anyway. As I said before, subsidised fuel is here to stay.