Thursday, October 09, 2003

Will the oil run out before we fry?

Swedish researchers have suggested that oil and gas will run out long before there is enough CO2 in the atmosphere to fulfill the worst fears of climate change activists. They say oil reserves will peak around 2010 and gas soon after.

While a shift to cleaner technology with long-term viability is a must, predictions of resource depletion have a habit of not coming true. As scarcity increases, previously unviable stocks become economically useful. As for coping with high prices, this would be a piece of cake for Europeans as tax makes up as much as 75 percent of the retail cost of petrol in many EU countries.

As for man-made climate change, I think the jury is very much still out. And surely it would be better to deal with problems as they arise in the context of the full range of practical problems society faces, rather than devoting a disproportionate amount of cost to just one area, CO2 emissions?

New Scientist

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