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Originally posted by transient
I think the more likely scenario is one where oil prices will stabilize at a very high plateau that will keep consumers in those developing countries out of the market. As it is today they their oil consumption stems mainly from their export oriented manufacturing sector which is composed mostly of westerns factories that were moved there. So what you have is a situation where factories that used to be located in the US and Europe were moved to those low wage developing countries, and now their oil consumption is growing accordingly.
Anyway, if oil runs out, needing fuel to get to work will be the least of our problems. Did it ever occur to you that we will run out of food? Without fertilizers, farming will be restricted to very few areas and that means that there won’t be enough food to go around to everyone. More on that in the article bellow…
The Oil We Eat
Currently, biodiesel is more expensive to produce than petroleum diesel, which appears to be the primary factor keeping it from being in more widespread use. Current worldwide production of vegetable oil and animal fat is not enough to replace liquid fossil fuel use. Some environmental groups, notably the NRDC (Natural Resources Defense Council), object to the vast amount of farming and the resulting over-fertilization, pesticide use, and land use conversion that would be needed to produce the additional vegetable oil.
as posted by DeusEx
Solid thread about alternative energy, and near the end, Off_the_Street brings up some good points about alternative energy- it's not really an alternative to fossil fuels.
Originally posted by jrod
Maybe if it reaches $4 a gallon in the next year I will retract that.