Al, your’s is trust in the free market to respond to human needs on at timely bases.
As I’ve said before, Al, the
current volume and demand for petroleum would fill a swimming pool 6.5’ deep x 82’ wide x 63,488miles long. And you think we can just simply replace this volume as it depletes with stuff like coal to liquids?
Take coal reserves and the annualized gowth in demand for it. Something you ignore when I present it to you:
webpotential.com/ambiente/exponential_growth.htm
“An example of what exponential growth means in resources can be seen with US coal reserves. Coal is the US’s most abundant fossil fuel. In 1991 the US Department of Energy reported that at current rate of use US coal reserves could last almost 500 years. But the caveat here is current rate of use. Between 1971 and 1991 the use of coal grew 2.86%. With this rate of growth US coal could last about 94 years if we could use it all, but more likely 72 years of coal would be recoverable (Forgotten Fundamentals of the Energy Crisis).”
Here’s a table. In the first column 0% means steady consumption year over year. So to use an example: if you have 300 years of coal, how long will coal last if the comsumption grows at stead rate of 3%? Answer; 77 years.
Lifetimes of non-renewable resources for different rates of growth of consumption. Except for the left column, all numbers are lifetimes in years.
0 % 10 30 100 300 1000 3000 10,000
1 % 9.5 26 69 139 240 343 462
2 % 9.1 24 55 97 152 206 265
3 % 8.7 21 46 77 115 150 190
4 % 8.4 20 40 64 93 120 150
5 % 8.1 18 36 56 79 100 124
6 % 7.8 17 32 49 69 87 107
7 % 7.6 16 30 44 61 77 94
8 % 7.3 15 28 40 55 69 84
9 % 7.1 15 26 37 50 62 76
10 % 6.9 14 24 34 46 57 69
Now, Al, if we do as you say and begin using coal to liquids to drive cars, trucks, planes, and trains, in addition to generating electricity for our homes, what do you believe the annualized rate of coal consumption will be if it’s already 2.86% now?
Why the dip in oil in the 70-80’s. We stopped using oil to generate electricity. Only 3% of electricity is now generated from oil.
http://www.geo.umn.edu/courses/3005/usquad.GIF
At a 7% annual growth rate in demand, consumption doubles every 10 years. 7% was the annual growth rate of oil. If that rate would’ve continued It looks like this:
State of Hawaii
dbedt.hawaii.gov