Economics
Sources of unconventional oil will be increasingly relied upon as motor fuel for transportation purposes when conventional oil becomes "economically non-viable" due to depletion. Conventional oil sources are currently preferred due to the fact that they provide a much higher ratio of extracted energy over energy used in regards to the extraction and refining processes it undergoes. New technologies, such as Steam injection (oil industry) for oil sands deposits, are being developed to increase unconventional oil production efficiency.
Read more about this topic: Unconventional Oil
Famous quotes containing the word economics:
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“Women’s battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)