Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (184564)	3/15/2004 7:29:39 PM
From: TimF	Read Replies (2) of 1573850

What was said is that oil production will peak some time in the future, and not that it was going to dead end. The term "Dead end" was used. Secondly, you inferred that when the world's production peaks, it will be no worse than when US production peaked. Not at all. I didn't say the situation would be the same in terms of how bad it was. I said the situation would be the same in the sense that there will not be a huge sudden drop off in production after the peak. Specifically I said that there would be no "dead end" in world production, just like there was no "dead end" in US production. What does the world do when the world's production peaks and demand remains high? The price goes up until supply and demand balance. If price controls are attempted then there will be real shortages (at least to the extent that the controls can be enforced and our not undermined by those who seek to evade them), but if the price is allowed to float freely then demand will be contained by the rising price and alternate sources of energy will come online now that the price is high enough to support those alternate sources. Tim

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