What will the giant oil companies of the world do when production declines and what will they do when the black gold runs out entirely?
If the Arctic continues it’s recessive trend, the Exxon-Mobils will have a brief stay of execution with new-found reserves in the former great white north, but then what?
They may use their drilling expertise to mine gas hydrates at the bottom of the ocean. I have mentioned that this is really a bad idea.
Exxon Mobil is the largest company in the world and something should be done with their equipment and employees, most of the companies are American owned anyway so we have a personal stake in the future of the oil companies…imagine having to bail them out!
So the solution is Geothermal.
I don’t know if I’ve commented on this before but I believe that Geothermal is the best renewable energy resource we have.
-It’s unlimited
-It’s constant
-Requires small overhead to convert heat energy to electric
—We have perfected the technology of drilling!
Ok maybe it’s not perfect but if there is any technology we have improved to the utmost, it’s oil drilling. Bottom line; drilling a big hole is how we harness geothermal energy.
So there’s your future big oil, you make a profit no matter what the price per barrel but someday those barrels will be empty.
Filed under: Business, Energy, Geothermal | Tagged: alternative energy, Companies, Geothermal, Methane, oil | 4 Comments »
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