Quote:
Originally Posted by djnemo65
I don't think people adequately understand the paucity of oil that remains in this world. If you are familiar with peak oil theory (which isn't so much a theory as a geoligical fact) then you know oil will reach a peak point of production after which the quality of oil will be reduced and it will be increasingly more difficult to extract. Increasing oil consumption in the developing world, particularily in China but really everywhere, is only quickening this inevitability. Now some argue that oil production peaked last year, but when it peaks is really irrelevant. What matters is that it will.
That means that at some point we are going to face a major day of reckoning, since not only transportation but the world's entire industrial infrastructure is predicated on access to relatively cheap oil. My point is that a major technological project is needed to avert what will likely be an extremely unstable period, as the world's 3 powers - Europe, America, China, and their respective allies - fight over the remaining scraps.
I think all 3 candidates fall short in doing enough on this and I wish someone would speak to the people honestly about the poisonous effect that increased consumption in a world of declining oil production will have on the stability of the global economic system.
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Theoretically though economics would say that as thise "day of reckoning" approaches the costs of oil will become untenable driving a major movement towards alternative fuel.