I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yep. There’s a lot more oil in the ground than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.
I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yeah. I hope it will still affect them though.
Yep. There’s a lot more oil in the ground than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.