Originally Posted by oldandslow
My 2 cents...
1. The days of cheap oil are over...period. Too much demand - not enough supply.
2. Second, more refineries are not being built because oil companies know number 1 is true. Why build new refineries when supply is tapped out?
3. If alternative fuels are not developed in the next 5-10 years, we are all screwed...
4. The Saudi's have said they are going to raise the number of barrels to XX several times over the past 2 years. Guess how many times they actually met their goals.
It is worth a read.
Personally, I don't believe that the world's supply is going to run out within the next 25 to 50 years. They'll find more.
But, as pointed out, finding supply means nothing without increased refining capacity. That's the bottleneck right now, and it's only going to get worse.
If "alternative" includes nuclear, I'm all for it. Throw in geothermal and wind generation, too.