pprimo

Are Oil Prices Increasing at a Rapid Rate?

It would seem from looking at XOM and BP's investment level in finding new oil, there are possibly 2 scenarios at work.

1)alternative energy will begin to displace oil rapidly not requiring the expenditures to find new sources, that may have very low probabilities of being found anyway.

OR

2)they are rolling the dice and betting on a worldwide slowdown bring supply back in line with demand.

the first case would be supported by huge investments in Alternative energy. I have not seen that for either one though BP seems to think advertising "Beyond Petroleum" is enough. Yikes!

If anyone has the number that each oil company spends on alternative energy developments, I would love to see them.