MonteQuest wrote:ROCKMAN wrote:And given the damage done to the oil patch as a result of those enabling high oil prices that have now disappeared how many years, maybe even a decade+, before the next 0.9% is added to future new reserves? IMHO sounds like some rather slim hope for even such very small gains.
Rockman, we are on the same page on this. My thinking exactly. Seems the anti-doomers here can't get their heads around it. I've sure got a lot of guff trying to explain why this is so.
Yes it seems now we are producing in fits and starts but the costs of production to the entire economy are far outweighing the benefits derived from a given amount of present/future oil particularly given the nature of a now weak economy. Wasn't the author Tanner who said that once societies become complex to a certain degree the costs of maintaining that complexity begin to outweigh the benefits.