Owen: "CTL and GTL plants have been explored in the literature as a counter to grinding scarcity. You don't have to scale any one alternative to match 100 million barrels per day.
Instead, there's a long list of alternatives, each of which can provide a few million barrels of oil-equivalent per day.
The biggest of those is converting gas- & diesel-powered vehicles to electric power.
This can be done by roughly doubling today's number of nuclear power plants, or equivalents gas or coal fired electricity generation.
Other alternatives include biofuels, algae-fuels, coal liquefaction and ammonia to replace bunker fuel for large cargo ships.
The list goes on -- higher fuel prices will increase US railroads usage, saving 1 million barrels per day, while converting railroad engines from diesel-electric to electric powered and also doubling railroad milage to what it was back in 1900 could reduce another 1/2 million barrels.
Electric powered train engine:
None of these alone solves the problem, but all of them together, over time, can replace oil that is past "peak oil" and gradually decreasing in volumes while increasing in price.
Owen: "Ask an AI how much food in the US is transported to grocery store shelves by electric truck.
The reply will be hopeful verbage about proposals and methodologies, all before the crushing “there is no indication of any substantial food transport to shelves via electric truck”."
Of course not, today, but if or when oil becomes scarce and prices grow higher, then conversion from diesel to electric would only take a few years.
Which part of this are you not understanding?
Which part of this are you not understanding?
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Your imagination of how long it would take find a way not to starve.
Oh and there is no law of the universe that says the price of oil increases if it is scarce, when faced with rifles held to heads at NYMEX ordering them to lower the price — and assuming the Saudis and Russians would particularly care what price is specified by trading venues located in hostile countries.
The most feared sentence in the world for decades was “what happens if overnight the Saudis decide to keep in the the ground for their grandchildren?” This still works, btw. See Norway’s Sovereign Wealth Fund, and the Saudis.
Then there is also the issue of China having ZERO reason to provide neodymium magnets to hostile countries who think they can build alternatives.