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Looks like it will be next Tuesday if Grangemouth goes on strike like they plan.There have been developments in pumping oil to the surface since the initial estimates, like pumping in steam to force out more oil. Who knows if there will be other advances. One thing is sure, if the price keeps rising then people will go to greater lengths to get it out of the ground.
Do not worry about it I will find something to replace oil. [8D]
As prices rise, novel solutions become more feasible, such as the manufacturing of oil from agricultural materials. The process has been demonstrated, although not economic at current prices. That could extend the supply of technical oil (lubrication, plastics, etc.) indefinitely. As for energy, ever hear of the hybrid automobile? This is coming on seriously now in the U.S., and with these plut-in hybrids, the effective gasoline mileage can soar to unheard of levels. The electric power itself can be generated by a multitude of different methods, particularly solar, nuclear, and wind -- all of which are also being pursued seriously. These developments could push the "end date" for oil out into the future indefinitely.