Is the era of oil nearing its end?

[Capt Worley PE]

WASHINGTON — After nearly a decade of warnings that the world's oil supply was running out, Americans now are hearing about technology breakthroughs that can unlock vast U.S. deposits of natural gas, help reverse a 40-year slide in domestic oil production and perhaps transform America into the next Middle East.
But despite the euphoria, there's a major problem: The looming American oil glut may simply not be enough to sate the United States and the rest of motorized humanity.

Experts say soaring demand from China and India is sure to send oil prices back above $100 a barrel. A supply disruption in the coming years, they say, could trigger panic, gasoline hoarding and perhaps lead to lines at the pumps akin to the 1973 Arab oil embargo and the 1979 Iranian revolution.

Read more here: http://www.thestate....l#storylink=cpy

Just more gloom and doom, IMO.

 

[Guest]

Will ... not ... get .... baited ... into .... one .... of .... Capt's .... articles ....

:Locolaugh:

 

[Capt Worley PE]

I am a Gigantic DoucheBag

Wait until you hear my new proposal for funding mass transit!

 

[knight1fox3]

Coal doesn't have much life left either. At least according to the professor in my recent Energy Systems grad school course.