From: "Tony Ingenoso" 

There's an absolute limit on the price of oil though.  That limit is where
the cost of cracking coal and/or processing oil shale and tar sands becomes
economically viable.

Once that point is crossed, supply then becomes effectively unlimited again
for many hundreds of years limited only by your cracking/refining capacity
rather than raw materiel supply.

The Chicken Little disaster scenario crowd religiously avoid this
inconvenient fact...

IMO, we should be planning and building right now for inevitability.

"John Beckett"  wrote
in message news:42b5483d.17611714{at}216.144.1.254...
> "Tony Ingenoso"  wrote in message
> news::
> > Its not just W - its the bulk of pols.  The answer is easy - people
vote,
> > and they love gas hogs.
>
> We live in interesting times. I heard a radio interview today with someone
> who studies the oil business. He believes that it is likely that the world
> production of oil is now at its peak. In the future, he believes, oil
> production can only fall (apparently the big oil fields in the middle east
> are showing signs of age with higher percentages of water and some other
> technical babble).
>
> The interesting point is that you don't need to actually run out of oil
> before prices sky rocket. All you need is for oil production to fall below
> oil consumption, or to look as if it might.
>
> John
>

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