There are claims out there saying that peak oil is ultimately responsible for this recession dragging on as long as it has. Is this hoakey conspiracy nonsense, or is there some truth to it?
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There are claims out there saying that peak oil is ultimately responsible for this recession dragging on as long as it has. Is this hoakey conspiracy nonsense, or is there some truth to it?
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5 Responses
Myth if the supply of oil were unending. Reality since it is finite. As to when it will occur for real, hard to say. Just look at what they found in ND recently. They think there may as much oil down on the northern tier than in all of Saudi.
It’s a reality.
Oil consumption has been raising at an exponential rate since we have first begun using it, I would think there is a bit of truth in it. Some government officials, as well as corporate fat cats like to say we have x amount of years left, but they do not count the developing countries that are becoming industrialized, nor are they including the fact that the human population doubles every 40 years.
Colorado has as much oil as Saudi Arabia… its not reality.
It’s called ‘oil shale’… it’s a little more expensive, but it’s there.
We also have yet to search Alaska for oil, of which there is plenty.
We also have not fully explored our off-shore resources… (hence the reason Obama expanded off-shore drilling)
I’m sure it is a factor. Oil is certainly a finite resource, but I would be willing to bet there is still way more of it left than the powers that be want to let on. Leading the public to believe there is less than there really is = control, and = leverage to push alternative methods of power that THEY see fit. There will come a time when oil will start running low, but no need for panic, it is probably far enough out that we will have plenty of time to create new methods of power that we couldn’t even dream of today within the next 50 years. I mean, look how fast we went from the wright brothers plane to jets, and how fast we went from rotary dial phones and newspapers to cell phones, the internet, and information out there available at your fingertips wirelessly and instantly. Technology is only going faster and faster as time goes on. If we have a solid 50 years of oil left (which I have no doubt we do), we will be fine. Most of the alternative methods available today are still weak and in their infancy, but give them time…no need to push hard for them now, unless the companies that produce them are in your pocket, and that is the case with people like Gore and other environmental alarmists.