Tintrlvr
Junior Chimp
Posts: 5,337
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« on: March 20, 2018, 10:25:32 AM » |
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In a sense, yes, but we will wean ourselves off of oil before oil starts running out.
Note that "peak oil" originally just meant that current (at the time) oil fields would eventually provide less output (not be totally depleted) before it became economically feasible to exploit other sources of oil, causing a massive spike in oil prices until the other sources became economically feasible. This really already happened in the 2010-2013 period, and the correction was that high prices spurred development of other oil sources that overcame the shortage and brought prices back down as they became more efficient and scaled up.
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