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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Taikun who wrote (48721)9/9/2005 10:08:16 AM
From: Spekulatius  Read Replies (1) of 206310
 
I don't think that solar panels and wind is the solution. Wind may work in some locations but solar energy is clearly too expensive. I think that the peak oil theory may not be too far off, but bulls are ignoring other factors.

1) Higher energy prices will force higher efficiency - better mileage, better insulation for houses. The potential is huge - the US citizen spends 2x the energy of it's European counterpart.

2) Substitution. Coal is relatively plentiful. Known exploitable coal reserves last for 250 years. Nuclear power is another (and one of the best IMO options) but politically. At high enough prices conversion of coal into fuel will make economic sense (Fischer Tropsch process)

3) High fuel prices could cause a recession (supposedly in Asia, where the energy consumption per GnP unit is 3-5x higher than in Europe or the US) which would reduce demand

All the above will require significant investments, lifestyle changes in some cases and will take a lot of time ( except 3) which could happen very very quickly )
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