Re: Respected Scientist:Peak Oil Is A Scam...Alex Jones Comments
If peak oil is a scam, why have several major oil companies reported that they have been over estimating reserves for years and that their capacity to extract oil profitably - (i.e. it doesn't consume more energy to extract the oil than you get from it once you've extracted it) is not growing with projected demand? Anyone that believes that there is unlimited oil is living in denial in my opinion. Our entire civilization is totally dependent on the black stuff and so far, nobody has come up with a viable alternative. Nuclear fusion is decades off yet and with the Chinese economy demanding ever more oil, is it any wonder that demand is predicted to far outstrip supply - and when that happens the price can only go one way. If anything there is a conspiracy to withold the facts about dwindling oil reserves so as not to cause mass panic - it is also unprofitable to conserve energy. We are in for an interesting decade with the possibility of more wars over energy reserves. With the North Sea drying up and gas reserves running on empty, it won't be long now. The major concern is that for food production and the fact that farmers are able to feed hundreds of mouths when they are mechanised - i.e. dependent on oil. When that starts to get more expesive, which it will, then this will have a knock on effect in the world economy with food prices increasing and production costs increasing. Not even China will be immune from such an effect.