Let's go back to the 60's.. I believe it was then the assumption we would run out of oil by the year 2000.
Numerous projects were approved on the worth of a barrel of oil being well over $30 or $40.
Now we have plenty of oil shale which the author blows off... as a dream.. but it is not.... it is real recoverable oil.. The only thing holding back recovering oil from shale is Price... I forgot what the breakeven is for recovery but doubt it is much higher the upper $30 barrel oil... Economy will drive consumption of oil... If the price of gasoline goes up, demand will go down.. You will see a fall back to smaller cars, suv go bye the way side.. Engines burning alternative fuels.. Natural gas from power plants going back to coal with scrubbers( of which we have unlimited supply and with new technology are sure to be able to convert to economic energy.) etc.
fuel cells coming on stream,, solar panels being more efficient. Another example is the light bulb... led's already replacing bulbs in cars, honda, bmw ,, traffic lights,,, now the house hold light bulbs are being manufactured in led's... The led will replace an energy inefficient light bulb as we know today..
In summary ,, new ideas, new discoveries are coming on stream everyday in this world.. I would not be blind to what is happening around us... Believer me Saudi and international oil corporations are very worried about alternative energy and doing everything they can to hold down price of oil.. They know it is not in their best interest for higher priced oil... |
