Over the past year, American drivers have found themselves longing for the days when two dollars per gallon seemed expensive. Oil prices are rising at an unprecedented rate, and as a result, many are questioning whether the Earth's available oil supply has reached its peak. Are there still oceans of oil awaiting our discovery? How much pain you'll be feeling at the pump in the future depends on the answer.
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As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.
tar sands existence supports the peak oil thesis
This post by Diana Furchtgott-Roth looks rtetty silly in retrospect. The Canadian tar sands are massively polluting and harmful. the technology is make them environmentally benign was certainly NOT being deployed whe oil was at $126 per bbl at the time of her original post. Now that oil has gone up to $147, then fallen to the low $30s, and finally recovered sharply to the $70s as of this posting, we can say:
1.The world economy cannot handle indefinitely rising oil prices and $126 was probably above what it can tolerate.
2. The tar sands are probably not economical at prices that the world economy can handle even without the expense of becoming clean.
3. The fact that the tar sands are even being pursued is pretty strong evidence that peak oil is a fact.
- E4 Capitalist
June 14, 2009 10:40AM
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