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User Info Climate Lies: These People Must Be Removed; entered at 2019-07-24 16:31:12
Tickerguy
Posts: 158609
Registered: 2007-06-26
Oh there's plenty of oil. And we can make as much of it as we want from coal; we have over 1,000 years of known available reserves (at reasonable cost of extraction) in that regard.

HOWEVER, the price of conversion is higher than sticking straws in the ground right now. That will not always be the case, and we know it's economically viable to do this because SASOL is doing it right now in parts of Africa and Germany ran a WAR on it.

So there is in fact a cap on the price you can get for "traditional" oil over any period of time; those who claim it'll go to $300 or $400/bbl if there's a problem are completely full of ****. We can, and if necessary WILL, convert the coal.

Now those who don't HAVE coal OR oil have a bigger problem. But in terms of our specific economic energy situation it simply isn't intractable by any means. Annoying, especially in the short term, yes.
2019-07-24 16:31:12