Peak Oil News

Saturday, May 22, 2004

From the Running On Empty 2 dialog of May 22:

Gotta love the comment to the effect of "pay some smart people enough money and they'll find all the oil you need". I'm sure there are flaws in the peak oil theories, but one of the supply & demand/market forces flaws is that technology and money cannot and have not solved every problem we would like to solve. The medical field is a perfect example --- we've been searching for a cancer cure for decades and haven't found it. Have we made improvements, yes, but it's still one of the top killers despite all the money and smart people thrown at it year in and year out. AIDS is another example --- we don't have a vaccine yet, but the market forces are there to find one. I'm sure moderate economists see that, but most of these authors don't. That's
how I see the next 50 or so years --- improvements will be made in alternate technologies, but we will not find the "perfect" replacement for oil which will allow us to continue on in the exact same manner, i.e. car crazy, as we do with oil. Sure the market forces will be there to find the replacement and additional oil fields, but just as in the medical field, we may not find exaclty what the market wants.

Dan
Philadelphia


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