Reserves are lower than previously thought, perhaps even in Iran and Saudi Arabia. Oil shale (and Canadian oil) will be much more costly to produce…. and the costs of global warming are HUGE,
more than spending even the billions wasted on nuclear power.
IF we spend a few billions on research and development of solar and wind small scale, locally sited alternatives, we’ll be money ahead and avoid disasters, since MOST INDUSTRIES and AGRIGULTURE are currently dependent on oil: Pharmaceuticals, pesticides, herbicides, as well as transport and heating/cooling. There’s no excuse for not having solar hot WATER, as Spain sees, in requiring all new construction to have solar hot water. How long before we’ll be FORCED to use alternatives, and then likely not have time to develop the best technologies? …. Wouldn’t lots of R&D on solar, wind, and geothermal help us more than a war for control of oil-rich regions?
