Oil Shortages And Oil Prices What Should We Do?

Oil Shortages And Oil Prices What Should We Do?
By Owen McShane
October 19, 2004

Governments around the world are becoming increasingly focused on the rapid rise in oil prices. They wonder if these recent prices rises are simply short term responses to short term problems, or whether they signal the end of the era of cheap oil which may spell the end of civilization as we know it.
Needless to say, special interest groups are seizing on the current price regime to promote their different agendas…

…The present high prices of oil mainly reflect short-term problems such as the political instability in the Middle East, and Nigeria…

…But surely, eventually, the oil must run out. No the oil will never run out.

No natural resource ever runs out. As any mineral or similar resource gets scarce the price increases until it is not worth using and substitutes step in…

http://www.scoop.co.nz/mason/stories/HL0410/S00217.htm