Check this out and get back to me:
http://www.dieoff.org
"Check this out and get back to me: http://www.dieoff.org "
Many of the same petroleum industry scientists.
I worked on oil field economic models in the early 70s. When prices popped from $2.50 to $7.50 per bbl., it went off our charts.
We smiled. It meant marginal projects would become quite profitable, giving us jobs. It was a nice place to work, so we smiled some more.
In the late 70s through the 80s I worked in the oil services industry. We built the capital infrastructure, for production, transport and processing of oil & products.
Based on projected prices up to $40 per bbl. companies and governments invested. We built and we smiled.
My personal investment portfolio reflects my belief in science. Finite Original Oil in Place. Supply and Demand. Growing demand, restricted supply equals high(er) prices.
I smile. Chevron/Texaco (buys) Unocal. Fluor/Massey. Dow/Praxair.
Higher fuel prices will push America to use it more carefully. Recall following the 70s price rises, we got smarter about energy use.
It will happen all over again. I am amused everytime I see a soccer mom driving her two kids in her Suburban.
Her family has had every right to select this big safe vehicle, in America, and fuel has been cheap.
I predict higher prices will make a push for lighter vehicles, but retaining safety and utility. Tough tradeoffs.