[FoRK] US Reaches Peak Oil!
J. Andrew Rogers
andrew at jarbox.org
Tue Oct 8 06:42:33 PDT 2013
On Oct 8, 2013, at 4:06 AM, Bill Kearney <wkearney99 at hotmail.com> wrote:
> It will still run out. And perhaps it's better to squander everyone else's first.
It will not run out in a timeframe that matters, which is probably the more important point. There is little strategic value in cornering a future market that likely will not exist.
Also, if the hydrocarbon reserves are likely to exceed what the market will demand over the long term then there is considerable economic benefit in maximizing sales while the prices are still high. The US now has several trillion barrels equivalent of hydrocarbon reserves, and that is largely because the technology to develop those reserves is being invented and deployed in the US first. If applied to the rest of the world, it would not be surprising to see the accessible hydrocarbon reserves of many other countries massively expand in a similar way.
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