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Friday, June 11, 2010

Abundant Cheap Oil

There is a lot of oil at the bottom of the ocean.
Really deep oil
the entire Pacific ocean has oil under it, not just on the continental shelves
the problem is getting that oil

30 years from now we will be able to extract that oil cheaply
robots will work at great depths
no need for oil rigs at the surface

oil price will drop to under five dollars a barrel

technology will yield cheap oil

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