It's interesting just how much obfuscation can be generated over the
state of oil reserves. We know with absolute confidence how much we had
in the not too distant past, so extrapolating forward this doesn't
dissapear.
"The Economist" had a whole special issue on "peak oil". It very
thoroughly debunked the whole concept. Oil won't run out soon because
we already know we have lots of it.
Supply and demand still apply. So if there is more demand the price
will go up. There is definitely a price where people will stop using
it: how many hours of work are you prepared to do just to actually get
to and from work? Not too many I'll bet. So either you won't work or
you will find another job closer to home, or you'll take the train. As
oil gets scarcer, it gets more expensive, but it may actually last a
very long time.
It is your classic media frenzy beat-up that serves only to titillate,
drive fear/greed and sell newspapers, sell advertising. In short it is
a total heap of ****.
The real question to ask here is: what could the world actually do with
the resources/money that are used to parade these idiots around in
their steel cages? How many diseases in the third world could we cure?
How many starving people would not be starving?
Or, how evil is a car? Is it just a totem for satan, or is it the very
embodiment of satan itself.? Is the driver evil, or the whole
combination? etc etc etc
dave wrote:
> vaudegiant wrote:
> >>Nevertheless, the peak oil crowd seem to get supply and demand mixed up.
> >>India and China are pushing demand to ever higher levels, thus pushing
> >>up prices and inducing suppliers to produce oil at a faster rate. The
> >>problem is that 'peak oil' means oil is being extracted faster than it
> >>can be replaced, leading to an eventual negative supply shock.
> >
> >
> >
> > If peak oil means oil is being extracted faster than it is replaced,
> > what is is being replaced with??? An oil reservoir holds a finite
> > amount of oil. It does not get replenished, replaced
>
> Well it does. It came from somewhere after all. It just takes a while
>
> Dave