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#111
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...Lesson for Nasa! US Airmail and Aviation
You're wrong. As price rises, demand falls due to customers switching to alternatives. Eventually, you end up with oil that's so expensive, no one in their right mind would use it, so you never truly "run out" of oil. As price rises, demand falls; as demand falls, price drops. If hardly anything runs on oil, oils prices will crash into the dust, and it will be affordable for other uses. So yes, we will use it all up eventually - it just won't be that important by the time it's gone. |
#112
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...Lesson for Nasa! US Airmail and Aviation
Well, no, Dale. Most people would consider "running out" to be the point where we absolutely still must have it and there isn't any to be gotten. No, "running out" means "it's all gone" like running out of passenger pigeons. As price goes up, demand will drop, as demand drops, price falls, until oil becomes rarely used and very cheap, but even at a slow rate of usage, it will eventually be all gone. |
#113
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...Lesson for Nasa! US Airmail and Aviation
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#114
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...Lesson for Nasa! US Airmail and Aviation
wrote in message oups.com... You're wrong. As price rises, demand falls due to customers switching to alternatives. Eventually, you end up with oil that's so expensive, no one in their right mind would use it, so you never truly "run out" of oil. As price rises, demand falls; as demand falls, price drops. If hardly anything runs on oil, oils prices will crash into the dust, and it will be affordable for other uses. So yes, we will use it all up eventually - it just won't be that important by the time it's gone. This makes no sense to me. If oil drilling stops completely, due to extremely low demand, there will still be some oil out there that's either undiscovered (too costly to find such a small deposit) and/or so hard to extract it's simply not worth it. Oil will never be completely gone from this planet. Jeff -- "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety" - B. Franklin, Bartlett's Familiar Quotations (1919) |
#115
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...Lesson for Nasa! US Airmail and Aviation
On Fri, 26 May 2006 16:24:41 -0400, in a place far, far away, "Jeff
Findley" made the phosphor on my monitor glow in such a way as to indicate that: wrote in message roups.com... You're wrong. As price rises, demand falls due to customers switching to alternatives. Eventually, you end up with oil that's so expensive, no one in their right mind would use it, so you never truly "run out" of oil. As price rises, demand falls; as demand falls, price drops. If hardly anything runs on oil, oils prices will crash into the dust, and it will be affordable for other uses. So yes, we will use it all up eventually - it just won't be that important by the time it's gone. This makes no sense to me. If oil drilling stops completely, due to extremely low demand, there will still be some oil out there that's either undiscovered (too costly to find such a small deposit) and/or so hard to extract it's simply not worth it. Oil will never be completely gone from this planet. No, but it may be gone from Ordover's planet. You know, the one on which no one understand economics? |
#116
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...Lesson for Nasa! US Airmail and Aviation
wrote in message oups.com... Well, no, Dale. Most people would consider "running out" to be the point where we absolutely still must have it and there isn't any to be gotten. No, "running out" means "it's all gone" like running out of passenger pigeons. Extinction of a passenger pigeons isn't quite the same thing as extraction of oil from the ground. Not all passenger pigeons died at the hands of man and not all of the ones that did were bought and sold. As price goes up, demand will drop, as demand drops, price falls, until oil becomes rarely used and very cheap, but even at a slow rate of usage, it will eventually be all gone. Doubtful. As oil usage slows to a standstill, there will be deposits of oil in the ground that are undiscovered (too expensive to find such a small deposit) and there will be deposits that are known about, but are too expensive to extract. Jeff -- "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety" - B. Franklin, Bartlett's Familiar Quotations (1919) |
#117
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...Lesson for Nasa! US Airmail and Aviation
The 75% on-the-job death rate of early airmail pilots would probably
not go over so well today. -- Gene Seibel Tales of Flight - http://pad39a.com/gene/tales.html Because I fly, I envy no one. |
#118
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...Lesson for Nasa! US Airmail and Aviation
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#119
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...Lesson for Nasa! US Airmail and Aviation
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#120
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...Lesson for Nasa! US Airmail and Aviation
Forgive me, I'm feeling contrary today.
Fred J. McCall wrote: The only way we would ever 'use it all up' is if there is some critical use for which absolutely no substitute exists at any price. Then it will stay very expensive so that price exceeds the cost of getting it out of the ground and we'll keep pumping it up until there is no more. Note that the preceding is pretty much an economically impossible situation, since there are no uses for anything that are infinitely valuable and for which no possible substitute will do. How about phosphorus? It's been proposed as the ultimate limiting factor for the size of the human population the Earth will support. |
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