Posts Tagged ‘Infinite supply’

German magazine Focus has a story about how “peak oil” doesn’t seem to be happening and U.S. oil production could overtake Saudi Arabia’s and Russia’s this decade. Here’s an English link about that and here’s what seems to be the source: An article by Citigroup.

There’s some great economist who predicted that “every trend in material human welfare has been improving–and promises to continue to do so, indefinitely”. (Actually, already Herman Kahn knew that “energy costs as a whole are very likely to continue the historical downward trend indefinitely … Except for temporary fluctuations caused by bad luck or poor management, the world need not worry about energy shortages or costs in the future”.)

Time will continue to prove them right.

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