To find out, simply watch this excellent video produced by Alternate Focus (and thanks to Curt for brining it to my attention!)
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Saker Message:
To find out, simply watch this excellent video produced by Alternate Focus (and thanks to Curt for brining it to my attention!)
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This goes back to the “war for oil” argument. I am a little skeptical because it seems likely that whatever tyrant would rule the place would have still been willing to sell us the oil. I can’t imagine that any rigorous cost-benefit analysis that was inclusive of risks would have argued that this was a good idea.
I do know that once the cost of a barrel of oil is persistently above $100 / barrel the amount of proven reserves that can economically be extracted will burgeon as it will start to become feasible to extract oil from the tar sans of Canada & Venezuela.
-AA