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Mon Mar 11, 2013, 03:12 PM

Enough oil no longer the problem [View all]


A few years ago the doomsayers were sure we would peak in oil supplies in the near future and eventually run out in years to come. It was made explicit in the book, "American Theocracy" by Kevin Phillips, which makes good reading. But, in fact, world oil production continues to rise, and the USA is one of the leaders in production.

Eventually consumers could decide they can do without some of the oil products, especially at the prices gasoline has risen to, and the oil futures investors, which have considerable control over pricing, will no longer be interested. The oil will just remain underground, unused, probably forgotten.

However, David Frum of CNN says "Our oil problem is not that 'we're running out.' Our oil problem is that we're producing so much of the stuff that we are changing the planet's climate." Whoa, now we bring in the environmentalists. But then there is fracking which produces cheap natural gas, which is a plus for the environment.

So what do we do next?

Read more here: [link:http://www.cnn.com/2013/03/04/opinion/frum-peak-oil|

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Nasty Jack Mar 2013 OP
Champion Jack Mar 2013 #1
Nasty Jack Mar 2013 #2
Champion Jack Mar 2013 #7
Nasty Jack Mar 2013 #8
Spider Jerusalem Mar 2013 #3
Nasty Jack Mar 2013 #5
BlueStreak Mar 2013 #4
Spider Jerusalem Mar 2013 #6
BlueStreak Mar 2013 #9
Spider Jerusalem Mar 2013 #10
BlueStreak Mar 2013 #11
Spider Jerusalem Mar 2013 #12
BlueStreak Mar 2013 #13
Spider Jerusalem Mar 2013 #14
Socialistlemur Sep 2013 #25
BlueStreak Sep 2013 #27
Socialistlemur Oct 2013 #29
Socialistlemur Sep 2013 #26
Socialistlemur Oct 2013 #31
Spider Jerusalem Oct 2013 #32
Socialistlemur Sep 2013 #24
happyslug Mar 2013 #15
TooManyPeople Mar 2013 #16
golfguru Apr 2013 #17
markboxer Apr 2013 #18
golfguru Apr 2013 #19
Bay Boy May 2013 #20
Socialistlemur Sep 2013 #23
4dsc Aug 2013 #21
Socialistlemur Sep 2013 #22
PATRICK Oct 2013 #28
Socialistlemur Oct 2013 #30
EconGreen Jan 2014 #33
Name removed Mar 2014 #34