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That doesn't mean we'll face shortages... Oil will increase in price until we stop using it.
by fleitz 11y ago
That doesn't mean we'll face shortages... Oil will increase in price until we stop using it.
- Retric 11y agoThat's a pedantic definition of shortage. Abundance does not mean you can get something if your willing to pay enough money.
- fleitz 11y agoFunny, I don't see any articles in the papers about whale oil shortages... Did you know it's virtually impossible to get whale oil these days? Do you care? Or do you just use a whale oil substitute? The ironic thing is increasing price actually increases supply.
- Retric 11y agoIncreasing prices did not bring an extinct species back. ex: https://en.wikipedia.org/wiki/Passenger_pigeon https://en.wikipedia.org/wiki/Passenger_pigeon As to whale oil, the Inuit still have access to whale oil. And there was a clear shortage in 1861, but there where also existing substitutes before modern whaling become so efficient. 'Oil' showed up after the fact, it's only after the fact people think 'Oil' showed up in time to save people from the whale oil crash.