Tell us: Is "Peak Oil" really the "megabubble?" Or do you believe
we've reached critical mass with all of them, a perfect storm nearing
a flash point: "The Internet Bubble times 10?"
Demand is never inelastic. As demand rises over supply, of any commodity,
the cost goes up, making alternatives more appealing. What I've not seen
in all of these doomsday scenarios is proof (or even an indication) that
the price of oil will rise so steeply that alternatives won't step in
quickly enough to compensate, in addition to societal/behavioral changes
that would also reduce usage of oil. The shift to alternatives won't be
cost-free, and might be painful for some, but it's irresponsible to say
it's doomsday.
Brian
