Oil Peak???

Are we going to run out of oil any time soon???  I think not.  But many people do.  Today in TCS Daily there is a good article about oil.  I believe that we are always going to finds new and innovative ways to extract oil from the Earth, and we will not run out of oil for a long time.  I also believe that when we evetually run out of oil, we will already have new technologoes in place to take the place of oil.  Right now we have Nuclear power, and we have cars that run on corn based gas.  So I do not think that all of the doom and gloom will come about because of peak oil as many believe.

Running Out of Oil? History, Technology and Abundance

By Max Schulz : BIO | 13 Mar 2006

Are we running out of oil? That’s what the doomsayers say. We are past our (Hubbert’s) peak and it’s downhill from here. War, famine, pestilence, perhaps even extinction – those are the apocalyptic scenarios posited by folks predicting the oil age is over and the era of stringency is nigh.

Whether we are running out of oil or not, one thing we’re certainly not short of is people who claim that we are. The good news about this bad news is that, historically, the doomsayers have always been wrong.

Almost since the first discoveries of oil in the U.S. in 1859, people have been saying we’re running out. In 1874, the state geologist of the nation’s leading oil producer, Pennsylvania, warned the U.S. had enough oil to last just four years. In 1914, the federal government said we had a ten-year supply. The government announced in 1940 that reserves would be depleted within a decade and a half. The Club of Rome made similar claims in the 1970s. President Carter famously predicted in 1977 that unless we made drastic cuts in our oil consumption, "Within ten years we would not be able to import enough oil — from any country, at any acceptable price." And so it goes today, where a slew of books and Web sites make fantastic claims about dwindling supplies of crude.

read the rest here.

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