Steve said:Whitewing said:Well, despite Steve's assurances that $200 oil is nowhere in sight, one minor skirmish in one certain part of the world and we could be there tomorrow morning.
$10/gallon gasoline. Someone here going to try to convince me that the US economy just keeps rolling along at that level?
and the skirmish has nothing to do with whether we have abundant resources..
Indeed, but I've not argued that we don't have abundant resources. Please try to stay on target. I've argued that we'll soon run out of CHEAP OIL and you've not yet laid out how I'm wrong.
Spending billions on coal-to-oil liquification plants, mining shale oil in the friendly environment of Alaska (and yes, it's generally mined), and fraccing abandonded oil plays is not going to give us CHEAP OIL once the production decline begins. That's my point.....CHEAP OIL GOES AWAY....US economy changes drastically.