Originally posted by: EclipseSix
Originally posted by: the wierdo
US diplomat convinced by Saudi expert\
There's yer problem right ther.
An american female expert convinced me I have the largest penis in the world. Does that make it true?
Just sayin.
And like I said, when this theory starts seeing the light of day and becoming a part of our daily news coverage, boom here comes the technology.
QM treats peak oil as an apocalyptic scenario. But it is a mainstream idea once you drop the Mad Max prognostications. Oil prices are rising and alternative energy prices are dropping because it's getting harder and harder to drill oil and easier to do everything else.
Eventually, they flip, and crude oil becomes confined to plastics and a variety of modern marvels that are not in the field of energy, and other sources pick up the slack for energy. But that happens over many decades. You're not going to wake up on a Tuesday to headlines of peak oil and find half the governments of the world overthrown on a Wednesday. Instead, prices just gradually become uncomfortable enough that people find other means.
In other words, I agree with your general point. Everything will be fine. But it's still probably true that Saudi Arabia has overstated their remaining reserves as well as their technological capacity to extract it. That will affect our fuel prices and their internal stability in the coming years.