Thread: New source of oil in the middle east?

Hybrid View

Previous Post Previous Post   Next Post Next Post
  1. #1
    aoeuhtns
    Join Date
    Jul 2005
    Posts
    581
    Whenever you read something that predicts the economy will collapse when oil runs out, it's a pretty safe bet that the author does not know anything about economics (or game theory). Oil does not 'run out'. Its price increases and consumption decreases. There are many replacements for oil, and many replacements for oil replacements. Wind turbines will never go out of fashion (as long as the sun shines).

    When currently existing wells start drying up, it will be more expensive to pump oil from them, and the price will increase. For oil to dry up, the people producing and selling oil would have to deliberately take losses by selling at artificially low prices.
    There are 10 types of people in this world, those who cringed when reading the beginning of this sentence and those who salivated to how superior they are for understanding something as simple as binary.

  2. #2

    Join Date
    May 2005
    Posts
    1,042
    Oil does not 'run out'. Its price increases and consumption decreases
    From an economics standpoint, what the hell is the difference? You're arguing a point that is totally and hopelessly moot, just to make yourself sound smarter.
    I'm not immature, I'm refined in the opposite direction.

Popular pages Recent additions subscribe to a feed

Similar Threads

  1. Staying vs Leaving the Middle East
    By BobMcGee123 in forum A Brief History of Cprogramming.com
    Replies: 72
    Last Post: 05-01-2007, 08:15 PM
  2. Tutorial review
    By Prelude in forum A Brief History of Cprogramming.com
    Replies: 11
    Last Post: 03-22-2004, 09:40 PM
  3. US attack in Iraq (WAR Talk)
    By zahid in forum A Brief History of Cprogramming.com
    Replies: 298
    Last Post: 05-07-2003, 12:00 AM
  4. Binary searches
    By Prezo in forum C Programming
    Replies: 4
    Last Post: 09-10-2002, 09:54 PM