You claim you don't buy into conspiracy theories, but your link includes this garbage:
Quote:
|
Oil prices that far north of $100/barrel would almost certainly trigger massive, last-ditch global resource wars as the industrialized nations of the world scramble to grab what little of the black stuff is remaining. This may explain why the director of the Selective Service recently recommended the military draft be expanded to include both genders, ages 18-to-35.
|
Edit:
Here's a good example of the other side of the issue:
http://www.spiked-online.com/Articles/0000000CA562.htm
Ever heard of all the oil in Canada? It's trapped in sand. By some estimates there is more oil in Canada than Saudi Arabia, but at current oil prices it's not economically viable to extract. When the price and technology is right, we will find more oil. In the meantime, we will prepare to become more efficient and find other sources.
Edit Edit: Here's a great analogy given to me by a great Economics Professor...
We will never run out of oil.
Imagine I give you an entire room filled with pistachios. You are allowed to eat them, so long as you throw the shells back in the room. At first you are eating happily. Later you have to dig a little to find another pistachio, but the cost of the digging still outweighs the benefits of eating it. You begin to eat less of them. As the shells pile up, you eat less and less because you have to dig more for each of them. Eventually you stop digging, but there are still pistachios in the room. They just aren't worth the digging. The same is true with oil. As the costs increase, we will dig more. We will slowly ween ourselves off of oil dependency as the digging becomes more and more expensive. But we will never run out of oil. We are at the beginning stage of this process, there are still more places to search for oil than have been searched. Major exploration in the Middle East hasn't occured since the 1970's. We will find more oil.
[ August 19, 2005, 07:05 PM: Message edited by: DJ FC ]