4 ms·
I'm highly skeptical that peak oil will happen from lack of supply. I'm betting it will happen from lack of demand. Petroleum extracting technology gets better,
by theandrewbailey 8y ago
I'm highly skeptical that peak oil will happen from lack of supply. I'm betting it will happen from lack of demand. Petroleum extracting technology gets better, and is always increasing viable reserves of existing oil fields.
- brixon 8y agoThere are still very large oil fields up north, but they are a bit too expensive to extract right now. If gas prices go up enough then they can start getting oil from there.
- beat 8y agoThat's what I'm hoping will happen - that EVs will lead to a big drop in demand before Peak Oil leads to a drop in supply. But hope is not a strategy.