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Whatever happened to Peak Oil?

• grecy 4y ago
  I think the consensus now is that we'll never "run out" of oil, because we will always invent more and more creative (read: expensive) ways of drilling for it like fracking and sideways drilling and deeper drilling. The catch is that oil will just get more and more expensive. So while we'll never run out, it might cost 10x or 100x or 1000x what it does today, which for many practical purposes is the same as having none.
  • _Algernon_ 4y ago
    I mean we will still run out when EROEI dips under 1.
    • viridian 4y ago
      Functionally won't happen because we have a near infinite demand for petroleum products. We may see a world where no one drives a gasoline vehicle, but plastics, resins, rubber, kerosine have certain applications where people would be willing to absorb 100x the current cost of extraction.