RE:RE:Game Over For Oil......I'm sort of in between on this whole debate. 100 or so years ago there were hardly any cars around.....and some said good old reliable horses and buggies would never be replaced by automobiles, cars were too unreliable....subject to breaking down etc, they'd be the toys of the rich but horses and buggies were going to be the mode of transporation well into the future...
By 2027 cars were everywhere.....there were still some horse and buggies around, but not many. Now there are practically none.....horses are a hobby for the rich, most ordinary people have never been on one.
So this time it will be different? Maybe.....the paralells are not 100%. Horses were not a coporate product the way cars are. Horses ran on grains and feed that could be grown on a farm....some of it would be bought, but there was a lot more $$$ to be made from selling gas than could be made selling oats.
Oil isn't just for gasoline of course, the petro chemical industry is huge....but take away a sizeable % of the demand for gasoline and the price will plummet.
My best guess is we have a window of ten to twenty years for oil to still be a significant commodity.......but over the next two decades I'm expecting to see demand for gasoline drop steadily.
whodathunkit wrote: biloshi wrote:
Trudeau says they want to phase out fossil fuels in Canada!
The Oilsands aka Tarsands will be the first to be shut down.
The push is for clean, green energy like solar, wind etc!
Cheers!
Unless there is a new game changer technology that pops up, fossil fuels will be around for a number of decades yet. What most fail to understand is that solar and wind are not base load electricity sources. Meaning, they are not reliable. Low wind or cloudy days diminish the amount of output. Modern society cannot function without a reliable base load power supply. The only way to currently (pardon the pun) get that is through oil, ng, coal or nuclear power.
The other factor is cost. Wind and solar are still very expensive and will sink an economy if relied on too heavily. Just ask the folks from Ontario.
Cheers.