Oil price may run into Jevons’s paradox, though. The prices are already depressed because new production outpaced demand back in 2014. I expect as oil producti

Oil price may run into Jevons’s paradox, though. The prices are already depressed because new production outpaced demand back in 2014. I expect as oil production continues to outstrip demand, while all this production machinery is still operational, then the price will continue to plummet. Making it more attractive to use oil frivolously, like driving SUVs into pedestrians.[0] I’m not convinced that oil will become expensive quickly enough to avoid catastrophic climate change. Not without a major carbon tax. For the price to go up due to scarcity, we would need to extract the oil from our currently available reserves, leaving only the more difficult resources. It’s better for the climate if we leave the reserves where they are.[1] [0]http://www.roadpeace.org/remembering/world_day_of_remembrance/ http://www.roadpeace.org/remembering/world_day_of_remembranc... [1]https://www.theguardian.com/environment/2015/jan/07/much-worlds-fossil-fuel-reserve-must-stay-buried-prevent-climate-change-study-says https://www.theguardian.com/environment/2015/jan/07/much-wor...