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Do we have any estimates on when oil will stop being cheap. It was my understanding that the planet will be well and truly fucked beyond repair if we ever manag
by baroffoos 7y ago
Do we have any estimates on when oil will stop being cheap. It was my understanding that the planet will be well and truly fucked beyond repair if we ever managed to use up all the easily available oil.
- brownbat 7y agoWell, OPEC feels it needs to artificially limit supply to keep prices from cratering, while fracking has basically permanently displaced several producers. Also, electrification and renewables threaten future demand (though that may be taken up by plastics). At some point between now and the heat death of the universe, the Earth will stop pumping oil. I wouldn't bet that peak oil is super imminent though.
- adrianN 7y agoHopefully oil won't become expensive because we used it all up, but because we finally price in all the externalities.
- masonic 7y agoThat's really well-put and succinct.
- NotSammyHagar 7y agoWe have more oil than earlier estimates because of fracking. But we have an easy alternative for gas in cars already available, electric vehicles.