JohnRawls wrote:Subsidised? Most of the oil companies outside of the West are Government owned.(That is the pinnacle of being subsidised i guess) US oil is all private, especially the oil shale producers who are small/medium businesses mostly. You can dispute the data but its a fact right now:
1) US oil production is the largest in the world right now due to oil shale.
2) Oil shale production is becoming cheaper and cheaper.
1. US Oil is heavily subsidized by the usual American corporate welfare; tax breaks, tax credits, direct subsidies, etc...
2. That is not sustainable. When it disappears, it will be obvious that the higher US production came at a heavy cost which was put on the American taxpayer, to avoid the day of reckoning.
3. Of course it's going to become somewhat cheaper, relatively speaking, but that bump is only temporary.
Now when I say ''temporary'', I'm talking on a historical time scale, but we'll see it in our lifetimes fail of it's promise.
But man is a fickle and disreputable creature and perhaps, like a chess-player, is interested in the process of attaining his goal rather than the goal itself.