Schizophrenic/Procrastinating/Clueless economists:
They concede to:
The rising costs of oil exploration
The eminent peak and subsequent end to oil as a main source of fuel
The fact that for every three barrels used there is only one barrel of newly discovered oil to replenish it.
At the same time they seem to feel that new technology and techniques in exploration and the resulting increase in yield allows you to delay the peak.
They also make the sweeping statement that "the World is not about to run out of oil".
What does "about" mean and when will they have the foresight to see the value of doing something sooner rather than later? More importantly, who is "the World" and when are they going to count countries (i.e. Iraq) who are slowly losing control of their oil.
What a bunch of crap!
Weaver!! You couldn't leave well enough alone, could you.
Mike
Mike Weaver <[EMAIL PROTECTED]> wrote:
http://www.economist.com/finance/displaystory.cfm?story_id=6823506
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