$10 a Gallon Gas Coming?
A couple of weeks ago a writer at Bloomberg raised the words “peak oil”. I haven’t heard it used much in almost a decade.
She claims a revolution in alternative energies (forms are getting more efficient and cheaper) would start reducing world demand for oil as soon as 2030.
For a time early this century there were predictions it was just on the horizon and we would be paying ten dollars a gallon for gasoline. The Bloomberg writer had a different meaning. She claims a revolution in alternative energies (forms are getting more efficient and cheaper) would start reducing world demand for oil as soon as 2030.
I believe her but we still need to get through the next decade-and-a-half. Two stories I’ve seen this week claim it could be a bumpy ride. A writer at Washington Examiner suggests storing up some treasure while the price per barrel is low. At the Wall Street Journal a writer explains oil exploration is now lagging. Why invest in a fuel that will in 15 years be a thing of the past?
Personally I’m optimistic (for a rare change). The United States, unlike many rivals and allies has blazed the exploration trail and should be able to ride out any crisis. If we follow the good advice and store some of the supply.