Jordan says we’ll soon be swimming in oil. (Apparently we might be able to re-instate the chewing gum tax cuts then!)
Frogblog says we’re about to run out, and need to stop building roads. (One assumes buses will start flying or something)
So where’s the truth?
For starters, we’re not going to swim in oil. Yes, oil companies might be spending large amounts of money on looking for the stuff, but that’s no guarantee of actually finding oil that’s worth recovering. If the middle east quietens down, the cheap oil there may make recovery of southern oil uneconomic. (The other scenario is that things get worse in the middle east and nukes start flying. With a few million less oil consumers that scenario could lead to lower oil prices too…)
Suffice to say, I’m quite suspicious of claims of immense future wealth. Didn’t Britain discover oil in the north sea?
Frogblog is even more “reality based” – apparently we need magic to solve our problems.
Of course that won’t stop the NZ government going on the biggest road building project in the nation’s history, because they think that another cheap energy source like oil will magically appear.
We have plenty of cheap energy sources. (Hydroelectric anyone?) The problem is to make them portable – a problem that petrol solves easily.
If Frog actually kept up with the technology he’s realise that batteries are now becoming good enough to cover the average commute quite happily – you could just rent a petrol car for longer trips in future.