3 thoughts on “Gas Price in David June 18, 2007

  1. Kevin,
    The article you reference has to be read closely to understand what is really being said. BP estimate 40 years of consumption given the current “proven” reserves. Consumption will increase over time but so will “proven” reserves. Also, these oil reserve estimates do not estimate oil in tar sands, oil shale, etc very well. One of the scientists quoted said that if he worked for an oil company he would lie about the reserves. Given that admission, any reason to believe anything that he is quoted as saying in this article?
    I live part time in the US (when I am not in Panama) and am located in an area that has hundreds of oil jacks. I can almost estimate the cost of oil based upon the number of jacks pumping – as oil prices increase you will see more production as it becomes economical. The peak oil theory has to include an estimate for oil cost & prices – few people can predict the costs & prices for next month, much less years into the future.
    The US estimates that oil will be the primary energy source for at least 80 years, even if there is a concerted effort to change to another energy based economy. Note that most of the peak oil proponents continue to move out the peak oil date. We have passed some of the estimated dates that we made in the past. But some day they will be correct.
    In my mind the real answer is nuclear energy for all non-mobile users (factories, electricity for homes, buildings, etc) at a minimum. There is no other long term solution as this point.

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