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By this logic oil & gas will never run out because rising prices will incentivize new extraction technology and formerly too expensive reserves will come online
by supertrope 4y ago
By this logic oil & gas will never run out because rising prices will incentivize new extraction technology and formerly too expensive reserves will come online. Or supply will dwindle and the price rationing system will ensure it goes to the most productive use and energy consumers will switch to cheaper substitutes.
- pharmakom 4y agoI actually think this is what will happen to oil and gas. It will become less and less of a feature of our lives over the long run. We will have to find alternatives (hopeful!) or cut back (painful!)