How are you preparing for 'Peak Oil' / The coming oil crisis

[Lawrence of Arabia]

"peak oil" is not my analysis. I just told you the definition from Wikipedia, and the concept can be criticized. What I'm speaking about in my analysis is not "peak oil", it's the fact that oil will one day become rarer, and thus much more expansive.

And that the reality of the world (not that world of mathematical formulae you seem to live in) will make it a time of economic hardships.

in that case i agree with you. whats good for me tho, is that its still a world of mathematical formulae that predicts this, and thats a demand schedual that has a positive slope and a supply schedual that has a negative slope.

According to Wikipedia, the most optimistic specialists expect "peak oil" to occur toward the end of the century. This is not so far in the future that we'd live in a world where energy technology will be completely different.

Especially if we remain complacent, and thus dependent of oil for our energy.

you can bet that if prices go to 1970s level for a prolonged time, people will switch away from oil and towards something else. they started doing it to an extent already in the 70s.

[DRoseDARs]

Originally posted by Park Avenue
Oil will never run out. All that will happen is that when its price starts to rise, other fuel technologies become viable and widespread.

At present, they are not.

If you believe that, I've got a perpetual motion machine you might be interested in investing in...



Snake oil is the fuel of the future!

[Solly]

"If you believe that"

Which bit do you disagree with?

[DRoseDARs]

Originally posted by Park Avenue
"If you believe that"

Which bit do you disagree with?

What's to disagree with? You're just flat-out wrong. As already mentioned, oil is called a "non-renewable" resource (re: finite ) for a reason...

[Solly]

Doesn't mean it will run out.

[DRoseDARs]

Our ability and desire to collect it will. We're gobbling it up exponentially and at this rate our consumption will surpass our technologies' ability to supply at reasonable costs.

[Spiffor]

Originally posted by Lawrence of Arabia
you can bet that if prices go to 1970s level for a prolonged time, people will switch away from oil and towards something else. they started doing it to an extent already in the 70s.

Yes. But switching away takes time, and it creates a transition phase. Since the oil lobbies are very powerful in the US, I expect the oil companies to be able to postpone the mandatory adjustment for as long as possible (by discouraging research on renewable fuel sources, by encouraging oil power plants to be built, by not promoting technologies and lifestyles that guzzle less gas).
And as a result, the American society will experience a shock instead of a gentle adaptation to a new energetic paradigm. Europe is likely to suffer less, considering that many European countries have attempted to reduce their dependancy to oil.

[chequita guevara]

Right, cuz we've never run out of anything before.

[chequita guevara]

Re: How are you preparing for 'Peak Oil' / The coming oil crisis

I ride my bike anywhere within six miles of my home, and take public transportation anywhere else.

If I get a job in Dade or Palm Beach counties (or even Western Broward), I will get a car, however. I don't want to commute for more than an hour. If car pooling is an option, I'll take it.

[Kidlicious]

LoA,

It's called a supply shock. Look it up in your econ book.

Spif,

You might want to only explain it to him once. He never really gets it, unless he gets it the first time.

[Solly]

Originally posted by chegitz guevara
Right, cuz we've never run out of anything before.

A few examples please just so we know where you're coming from.

[TheStinger]

I'm always runnng out of beer, I live in a village and if i have to buy it from the local shop it costs a fortune.

[el freako]

I feel I should again quote Sheik Yamani (the Saudi Oil minister during the 1970's and 1980's):

"The Stone Age didn't end because we ran out of stone, the Oil Age won't end because we'll run out of oil"

[Alexander's Horse]

the energy crisis is a myth

[Kidlicious]

Originally posted by el freako
I feel I should again quote Sheik Yamani (the Saudi Oil minister during the 1970's and 1980's):

"The Stone Age didn't end because we ran out of stone, the Oil Age won't end because we'll run out of oil"

The Saudis what people to believe that they have plenty of cheap oil so that people will keep planning to buy it. They have to keep the price low though otherwise people begin to suspect. In order to keep the price low they have to sometimes pump more than is good for their wells. The crisis will hit when these wells become damaged from over production.