The oil industry used to be a no-brainer investment. There seemed to be an infinite supply of oil, and with more and more people owning cars, demand — and thus oil prices — were rocketing. This meant that oil companies would be booming. But has anyone asked the question: what happens when the oil runs out? Oil companies such as BP (LSE: BP.L – news ) (LSE: BP) (NYSE: BP) and Shell (LSE: RDSB.L – news ) (LSE: RDSB) (NYSE: RDS-B.US) are already finding that their production is falling. They are now scouring the furthest reaches of the planet for oil, from the Artic to the Gulf of Mexico and the South Atlantic. Oil is increasingly difficult to extract But any oil they do come across is increasingly difficult, and expensive, to extract. And the Macondo tragedy shows what can happen when the oil industry tries perhaps a little too […]