tangent4ronpaul
Banned
- Joined
- May 11, 2007
- Messages
- 21,101
Peak oil is a canard. Dr. Paul himself said that oil supply relative to gold supply is flat, meaning the price of oil in real money is constant. Oil discovery and recovery technology is improving all the time, compensating for depletion.
"depletion" is the operative word. As Rep Barnett emphasized, it's not about tomorrow - it's about the day after tomorrow.
Something else he didn't talk about - he mentioned a world without oil from an energy standpoint. Imagine a world without solvents of plastics.
In a free market oil is the cheapest energy source for a simple reason: it is the most plentiful.
If that ever changes, prices will change with it if government stays out of the market.
Most plentiful, yes - but you left out half of the equation: It has the highest energy return of any source out there. We get something like 98% of the energy from it after processing. With ethanol we get 2%.
-n