How to push the oil levers in the wrong direction

By now, it should be clear to everybody that we are facing some problem with oil production. Facing a problem, the normal reaction is to do something about it. If crude oil is becoming scarce, the first reaction often is, “where can we find more of it?”

We find a good example of this reaction in a recent a paper by Tony Megg titled,

So where do we look for the third trillion?

I think there are three main areas:

– We can get more out of what we have already discovered.
– We can find more of what we have already got, and

– We can diversify the sources of supply by using different feedstocks.

What Tony Megg is telling us, basically, is