Posted by David Sherman on Wednesday, March 15, 2006 at 2:15PM :
In Reply to: Re: Running out of oil, not! posted by MoparNorm on Wednesday, March 15, 2006 at 1:48PM :
The nice thing about science (as in geology) is that unlike politics, reality is what it is regardless of anyone's opinion of it. Whether we're at the crisis of "peak oil", or there's gobs more oil to be found, or oil fields continually refill themselves, the truth consists of what you can suck out of the ground when you stick a pipe into it, and that's the only thing that really matters.
By the way, no real geologists ever thought oil came from dinosaurs. They think it comes from the decayed plants of prehistoric swamps. It's not that hard to make "crude oil" out of any sort of organic waste today by heating it under pressure. It's just not economical to do so. As for oil shale, you know what the geologists say: It's the energy source of the future and always will be.
I agree about fuel costs still being low today. Relative to the price of crude, fuel is really cheap. When gas was $.30/gal, crude was $2/barrel. At that rate, with $60 crude, gas should be $9/gal.
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