Sunday, April 03, 2005

This is the first in what may be a series of comments on Peak Oil. I agree with Matt Savinar's basic premise that the world is running out of cheap oil, but I have some disagreements with him regarding what that means. The major societal dislocations that he raises as being the result of the end of the Oil Age are by no means inevitable, or even likely. A little bit of foresight could smooth over any major impact of running out of petroleum. Without any intervention it is likely that there will be, in the short term, some relatively nasty economic consequences. My reasons for this conclusion will be presented (hopefully) in another post.