Q: why are we drilling miles upon miles offshore?

A: Because rich people don't want their coastal views obfuscated.

A: Because environmentalists fear spills that will affect harbors, coastal wildlife, etc, and they've pressured for restrictions to lessen the risk of that.

Whichever side of that truth you believe, though, you can't honestly believe that oil will continue to prevail with so many alternate, green energy sources taking increasing hold in nearly every industry and locality around the world. ...especially with a forward thinking US president coming to office to promote them. Sure, oil might boom back to the $100s, but after 10-20 years, it's toast. Simply put, because if we keep burning it after that, we're toast... (But arguing with those who don't believe in global warming is for a whole new pointless debate.)

Just my 2 cents.

read this article:

http://www.dailyreckoning.com.au/uns...

Not saying that there isn't a little truth in those answers but the simple fact of the matter is that the days are over for the automobile as we know it. It would not shock me if congress allowed the big three to fail because they produce useless crap and will continue to do so after they get their money. Prducts like the chevy volt would be good for a transition period to alternative fuels but it still requires electrity which we are at max capacity on. Our power grid would not be able to take a volt-like product on a national scale. So that leaves a combination of alternative fuels and conservation , and I think there will be MUCH more (forced) conservation than there will be alternative fuels.