Before it was in North Dakota. Now it’s deep under the Gulf of Mexico. Whether we need it or not is one thing. (Although it would be good not to be so dependent on dictators and absolute monarchs for it.) But the idea that we’re running out of it is pure baloney.
Via The Seablogger.
THE TEXAS SCRIBBLER 
Most stupidity bothers me, but smugly ignorant scientific stupidity really annoys me.
Eco-wackos never realize exactly how big the world is.
We can now drill, what, around a mile or so deep? The continental crust is 20-30 miles thick and the sea-bed crust is around 3-6 miles thick(according to wikipedia).
As we get better at extracting it, we’ll find more of it. That’s what’s been happening all my life.
Our reserves right now are probably similar to what they were 50 years ago and are probably what they will be in another 50 years.
And hopefully by then we’ll have figured out better energy sources so we can use oil for its intended purpose, making resin statues of Elvis.
I meant to link this
http://www.classicalvalues.com/archives/2009/09/we_are_running.html
Mostly for the title
“We are running out of Peak Oil”.
That’s funny.
The BP find in the gulf is about 30,000 feet (5.5 miles) below the seabed. So we can already drill a lot deeper than a mile.
I didn’t realize that. That’s cool.
They started at 4,100 feet.
I wish they explained that.
How do you start drilling from a depth you reach by drilling?
Since it’s underwater, I doubt they have a mine that deep.
Heh. They parked their rig over a spot where the water was 4,100-feet deep, lowered their tool to the seabed and commenced to drill. Understand now?
Some people think the Gulf is shallow, and about 38 percent of it is. But parts of the rest are very, very deep indeed:
http://www.gulfbase.org/facts.php
You know, once in a while I have good reading comprehension.
Other times? I look like a fool.
I also didn’t realize that the Gulf was nearly a mile deep. I would have guessed much more shallow.
I forgot to h/t you on this, I’ll fix it.
http://doubleplusundead.mee.nu/will_bp_stand_for_barsoom_petroleum
When, oh when, will you go metric? I mean, go figure all these feet and miles…
Still, we need to find a way to drill horizontally. Under Saudi folks.
I, personally, will resist metric to the end. As for the country, the public schools in Austin seem to be trying to institute it on the sly. But the rulers the kids use in math classes still are in inches.