by OilDummy » Thu 21 Aug 2008, 11:46:03
$this->bbcode_second_pass_quote('Roccland', 'G')ee - if oil just bubbles up continually from the earth...we should be at $5/b...heck it should be "free"...
Well, Einstein, that shows how little you know about things. Look under your feet, what do you see? Dirt, soil, earth, fill...depends on what you want to do with it. But that spot under your feet may be worthless or valuable depending on who needs it, where it is needed, how much of that type is available, etc.
Today's oil price is a reflection of speculation to some degree and other factors as well. Remember, Jed Clampett's oil was worthless to him and he was hoping the Gummint man was there to drain the swamp of it.
Now on to facts, here's what I found quickly....not what i had found some time ago, but along the same lines:
link