Posted on 11/23/2005 2:13:47 PM PST by Dan Evans
Isn't there a theory that the water on earth came from comets?
Your exactly right. However, there have been recent scare stories about running out of global reserves, and that may well have pushed up prices beyond costs+reasonable-profit.
there is also this story
This story really begins in 1946, just after the close of World War II, which had illustrated quite effectively that oil was integral to waging modern, mechanized warfare. Stalin, recognizing the importance of oil, and recognizing also that the Soviet Union would have to be self sufficient, launched a massive scientific undertaking that has been compared, in its scale, to the Manhattan Project. The goal of the Soviet project was to study every aspect of petroleum, including how it is created, how reserves are generated, and how to best pursue petroleum exploration and extraction.
The challenge was taken up by a wide range of scientific disciplines, with hundreds of the top professionals in their fields contributing to the body of scientific research. By 1951, what has been called the Modern Russian-Ukrainian Theory of Deep, Abiotic Petroleum Origins was born. A healthy amount of scientific debate followed for the next couple of decades, during which time the theory, initially formulated by geologists, based on observational data, was validated through the rigorous quantitative work of chemists, physicists and thermodynamicists. For the last couple of decades, the theory has been accepted as established fact by virtually the entire scientific community of the (former) Soviet Union. It is backed up by literally thousands of published studies in prestigious, peer-reviewed scientific journals.
http://www.freerepublic.com/perl/post?id=1527613%2C44
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