By Ron Fraser
Everybody feels the pain of price hikes at the pump. The supply of oil is not endless.
But wasn’t this all predictable, this fact of oil becoming a precious commodity the closer we got to the limits of its availability? After all, it’s a finite resource. As well-known energy expert Dr. John Rutledge once said, “God only made a limited amount of dinosaurs, and they’re all dead. … We’re running out of dead dinosaurs—that’s the big problem” (Rutledge Capital, Oct. 5, 2005).
Of course, Dr. Rutledge was referring to the fact that fossil fuels, which supply the energy to drive today’s industrialized, high-tech economies, are limited: Only a certain number of the fossils from which oil is extracted are buried beneath the soil, rocks and seas. One day it will all simply run out. Anticipating that day, and doing something about it now, is the challenge presently facing mankind, and mankind has shown little capacity or will to act.
The technology and the know-how to really do something about this have existed for decades. What has been missing is the will to commit the requisite capital and manpower to develop viable alternatives.
The world sees America as the great bogeyman when it comes to energy consumption and resultant pollution. It also recognizes that without a continual supply of energy-producing oil, the U.S. would descend rapidly from its position as the world’s leading economic and military power. This all creates geopolitical tension in today’s high-priced oil market.
- Slick argument from oil salesman (timesunion.com)
- Fuel shortage in oil-rich country (rt.com)
- How to wreck the planet 101 (cbsnews.com)
- Eric Logan: Everything you’ve heard about fossil fuels may be wrong. (salon.com)
- Read This Before Another Huge Oil Shock (fool.com)
- China, not U.S., key to global oil demand (theglobeandmail.com)
- Dr. David Rutledge to Address Coal and Oil Production and Climate Change at Hope College (thewmeacblog.org)