[Redbob]

z"That fact is the more you make of something, the cheaper it should be for the unit price based on the nature of mass production yet, this is not occuring."

Sure it is.

You're making one rather glaring omission:
At the same time production of petroleum has increased, consumption has increased enormously due to the rising purchasing power of India, China, and others.

There's another economic principle having to do with supply vs demand at work here.

[edcoil]

True but all those location have their own oil in the region. The largest oil reserve known is off the coast of russia and china - the largest oil company in the world is Russian.

There is plenty of oil so supply is not limited - production is only limited by government so the price climbs due to government restrictions not, market forces.

[quantfive]

"You're making one rather glaring omission:
At the same time production of petroleum has increased, consumption has increased enormously due to the rising purchasing power of India, China, and others.

There's another economic principle having to do with supply vs demand at work here."

You are correct sir. Actually, the real story is coal right now. since we are talking about work to draw oil from our existing resources, we don't need Canada's resources, we have trillions of barrels of oil trapped within our coal, right here in the USA. Coal will work just fine for the next 20-30 years as we move toward cleaner hydrogen. I also hate us using Arab oil when we are their biggest customer but all they do is *hit on us.