Quote:
Originally Posted by bjl584
We could probably do it if we started more exploration and refinery development here in the states. There are huge oil deposits in Colorado, Alaska, and in the mid western states. There are also huge untapped deposits offshore. But, due to political and environmental factors, we are not allowed to use our own resources or build a new refinery. The demand is high and our capacity to produce enough supply has been severely limited. Hence, $3.50+ per gallon at the pump. Alternative fuels do provide some hope, but as of now the technology just isn't there. There needs to be more R&D on these before they are a viable alternative. Ethanol causes a lot more pollution than gasoline. Not to mention it uses up crop land which raises other grocery prices. Hydrogen Fuel Cells are interesting, but right now the only way to get a viable source of hydrogen is to burn fossil fuels. The whole hybrid car craze is probably just that. In the long run, they actually pollute more due to the chemicals and the processes that go into producing the batteries for these cars. Maybe someday as battery technology improves these cars will be more practical. There is no easy answer. Everything has its pros and cons. The reality is, right now in this day and age, oil is the fuel of the world's economy. Alternative sources of energy are important to explore, but that doesn't mean that we should cut ourselves off of our present means to power our world.
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I agree with much of what you said, though I have less faith in our ability to ever produce enough domestic oil to get us off of a heavy dependence on foreign oil.
If fuel prices are the primary concern, however, I honestly believe we are currently in a classic bubble phase when it comes to oil prices. It is nowhere near universally accepted that we are approaching peak oil within the next one, two, even three or four decades. The people I hear advocating that most strenuously are those who benefit from high oil prices (Boone Pickens, etc). Oil is a classic boom-bust industry. Much of the current bubble is due to little more than rampant speculation which is boosted by the weak dollar. These conditions are not permanent. I know the argument is that there is a new paradigm sustaining these levels, but that argument has been heard during every speculative bubble known to man.
These prices will eventually bust, and they will bust hard. IMHO.
But peak oil eventually will come, which is why I agreed in my last post that the search for that miracle alternative is necessary.
