Well, in the 1970s they claimed peak oil theory, but obviously that hasn't happened yet. We keep finding more oil around the globe, and more fossil fuels, and it doesn't look like we're going to run out anytime soon, or leave you stranded on the side of the road because there is no gas at the gas station. All of that was just fear-based nonsense, and bad scientific figuring. It is amazing how technology and entrepreneurs will always find a way. Okay so let's talk about this for second shall we?
You see, not only are we finding more oil reserves, we are finding better ways to get more oil out of what's there. The Wall Street Journal had a decent piece published on June 27, 2012 titled; "Investment Boom Means Fears of Peak Oil Have Peaked" by Liam Denning which noted that we are doing extremely well in the US with regards to oil and gas, thanks to fracking and shale oil.
On that same day CFR or the Council on Foreign Relations had posted a talk with "Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, discussing North America's natural gas and oil resources, technological innovations, and their effect on the global energy market."
He noted that today North America produces today million barrels a day (Mexico, Canada, and USA) and by 2020 he predicts 18 million barrels no problem - with an earnest goal to do more. So you see Peak oil is pure fantasy. And even if there will be a time when we are very close to running out of oil, it's not going to be in the next couple of decades, so there is plenty of time for an alternative energy transition for our transportation fuels before then.
Apparently, many folks believe global warming will be the death of us all, but the reality is that a warming period is much better and more abundant for life on earth than the opposite or an Ice Age for instance. Therefore we should welcome the warmth, and stop complaining. It also means that the alternative energy sector, and the global warming alarmists need to pony up, advance their technologies, and compete in the free market at a fair and equitable price.
These new technologies currently can't compete with gas and oil, although maybe someday they will. Until then, let's use what we've got, keep our economy strong, and stop worrying that were going off some sort of a climate cliff because that's just insanely naïve, and we don't need any more of that purported nonsense or scare tactics from environmentalists. Indeed I hope you will please consider all this and think on it.
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