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05/05/2005 Archived Entry: "still more on oil"

Back to the subject of oil...our friend and science whiz Gordon P. reminds me that he sent us an article about the "deep hot biosphere" last year. OK, I grant that methane can exist down there. It's conceivable (though still speculative) that more complex hydrocarbons could be synthesized from the methane. But even with regard to methane,

"We have not, however, shown that such reserves actually exist," Fried cautioned. "Furthermore, I am not aware of a present-day technology for exploiting the reserves."

Gordon adds these more recent observations:

All of this analysis is telling me the same thing. A. Fuel prices will go up. B. Government intervention in the market will make the problem worse. Price controls increase consumption, decrease efforts towards conservation or efficiency, exhaust the "cheap" resources faster, and delay or discourage the development of the "expensive" resources and of alternatives. C. Nevertheless, government intervention will continue.

It's not just that prices will go up... they must go up. Sooner, or later. I'm being conservative and planning on "sooner."


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