noteworthy wrote:
George Soros:

In the absence of alternative sources, the price of oil is liable to rise indefinitely. Only if we are willing to live with higher prices in order to develop alternative fuels can we hope to see an eventual reversal in the long-term uptrend in oil prices. In contrast to oil and other fossil fuels whose costs of production are bound to rise, the alternative fuels will become cheaper as we discover cheaper and more efficient technologies to exploit them, and will eventually bring down the price of fossil fuels as well.

This is only sorta true. Yes, there's a supply and demand problem with fossil fuels which will only be exacerbated by development of alternative energy sources (ie. the price of oil rises with demand, making some alternatives more attractive economically, but that then floods the market with supply, which drives prices down which makes oil more attractive, ad infinitum).

But this is a STRATEGIC choice. Long term, you're not just dealing with peak oil, but peak any resource. Things like biodiesel are excellent transitionary choices, but are not wise long term strategies because you don't get anything for free. Solar, nuclear, hydro, and wind are good long term strategies, but a blend is necessary to make sure that we don't have too many eggs in one basket and that you don't run into the same supply/demand problems you have with fossil fuels today.

This should be viewed as an OPPORTUNITY, an investment in the future with a healthy return and many soft benefits. Not as a burden or painful forced migration.

RE: The Perilous Price of Oil