Crude Oil Becoming Much Harder to Find

The Daily Reckoning

Eric Fry, reporting from Laguna Beach, California…

Contrary to popular mythology, we Californians do not live merely on love, sunshine and granola.

I mean, sure, we’ve all got our yoga mats, our quartz crystals and our “life coaches” (who doesn’t?), but life is just so much more than “namastes” and positive energy. Life is also about building enough windmills (somewhere else) and installing enough solar panels (somewhere else) to keep our yoga studios air-conditioned.

And, yeah, I guess we need SOME crude oil, cause our Priuses cannot ALWAYS run on electricity. So I guess its fine to use crude oil if we have to, as long as we can obtain the oil in an ecologically friendly way…like getting it from somewhere else. (OMG, remember the Santa Barbara oil spill in 1969? That was a SERIOUS bummer!)

So, yes, we Californians certainly understand that we cannot break our dependence on crude oil overnight. At least not until some “next generation” process comes along that can convert text messages into jet fuel. And even if we Californians use less crude oil, someone else is bound to use more of it…like all those reckless industrialists in the Developing World. Don’t they know how bad crude oil is for the environment?

But I guess there’s just no reasoning with these people. So I guess we’ll just have to keep finding and pumping crude oil for a long time to come.

Hmmm… I’m not sure how easy that’s going to be. When I was out recycling newspapers the other day, I saw an old headline that said crude oil is becoming much harder to find…and that oil production is falling off rapidly at many of the world’s largest fields.

So I did a little research and – would you believe – it’s true. Crude oil is becoming much harder to find and much more expensive to produce.

Eric Fry
for The Daily Reckoning Australia

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