- Present high oil prices make life difficult in poorer countries but at the same time also help fuel development of renewable energy sources
- There are several dilemmas regarding the high oil price.
- It makes it difficult for the poor countries. At the same time renewable energy will be developed faster, which is good.
Saturday, July 12, 2008 at 9:41 AM Posted by karthikeyan
at 9:36 AM Posted by karthikeyan
Human Beings talk a more about alternative fuels being more Living with oil at such high prices. It also, however, makes other, more exotic, fossil fuel extraction techniques viable. This piece in the UK’s Independent outlines how oil reserves are understated because certain known fields are too expensive to extract at this time - and therefore are excluded from oil reserve projections (an important point that I would wager that many investors don’t understand).
The risk for green investors (and the environment for that matter) is that, if true, tapping oil reserves such as these could grow oil supply over current projections (even if its at these current high prices) - driving out the peak oil scenario longer than anticipated by Wall Street. (This is the kind of stuff investors and analysts miss all the time).