<Energy is a non renewable resource, the demand for energy is growing faster than ever worldwide, no matter how many holes we drill>
Excellent post, nuts! For those with patience, the small capper oil/gas/drillers we discuss on this board will very probably be much higher within the space of 1 to 2 years.
I would substitute the term "oil and gas" instead of the word "energy" in your post...since there are energy sources that are renewable.
If you remember back in 1998 when oil was $10/barrel and everybody was predicting $5/barrel, I was buying because I saw that a lot of drilling had stopped due to it being uneconomical.
Now that the price of oil/gas is higher, many of those same areas where drilling stopped have become economical and drilling has resumed. At $50/barrel, extracting from oil sands now becomes economical. At higher prices per barrel, wind/solar and all sorts of other alternatives become economical.
Because it takes so long to switch the world from oil/gas to alternative energy, and because I agree with you about worldwide demand for energy is increasing faster than we can supply it, I think we are going to see dramatically higher prices before mankind can switch to different energy sources to reduce the demand for oil/gas. I just don't know how bad it will be, or for how long it will last, and how much of a shock to the system will happen.
