New discoveries are a function of price, so don't count on
peak oil. Maybe it's true, maybe it isn't. For $200/barrel they
may find lots more in Siberia (Russia) where nobody lives, or in
Northern Canada, where nobody lives either. US also has most
coal in the World, which I happen to be boolish on. 700 years
worth of coal (at current demand level). The world won't run
out of food and energy... I hope. It may get pricey here in
the near future, though. -g/-ng-
I mean, for $10 per barrel as oil was 10 years ago, which oil
companies would have money for exploration? Takes time and
investment, and high prices cure high prices. -g-
I hope technology eventually develops enough to tap the
thermonuclear energy. Also quite possible, provided that
the governments around the World recognize we have a problem,
and fund research on this stuff. They almost got to the point
of running a controlled thermonuclear reaction in 1999 when
all government funding was cut. $10 oil. A coincidence?
There was also "cold fusion" crap that appeared simultaneously,
so the government decided to fund that. :( Fusion just
does not run at room temperature.
In other words, I agree with you, will get high prices, but...
high prices do cure high prices, if not by finding some more
oil, then by using some other source of energy. -g- |
