Long before we get to the very last drop of oil, we;ll have identified another form of fuel for our society. It may be another form of fossil fuel, it may be solar or it may be wave. In any event, the idea that the work will run out of oil and the implication that our society will wither and fade away is ridiculous.
As people who make money on oil begin to realize that were close to running out of oil, they’ll raise the price of said oil. And when THAT happens, that new fuel will be found.
Fortunately, we may already have taken a step in that direction:
Sanford, N.C. — Geologists have wrapped up research on natural gas deposits in central North Carolina and are awaiting an assessment from the U.S. Geological Survey in July.
North Carolina Geological Survey chief Kenneth Taylor says his assessment shows that Lee, Chatham and Moore counties could produce enough natural gas to power the whole state for 40 years.
40 years.
Of power.
No oil.
What could prevent this awesome resource from being utilized?
Government:
But state law would have to change to allow horizontal drilling and a process known as fracturing that uses chemicals and water to force natural gas from shale.
Figures.