Originally posted by Whitley
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You are basically correct that developed economies require cheap oil. One way to "produce" more cheap oil is to eliminate the taxation of oil and gas. That makes it much cheaper to the consumer.
And it is not certain that oil is a finite resource(except in the sense that the earth is finite) any more than it can be said that water or silica is a finite resource. New o+g fields are constantly being discovered and better technology is allowing the reuse of older, already discovered, fields. There is no reason to believe that oil will not remain cheap; at least cheap enough for companies to turn a profit, which was your measuring stick.
Nuclear is the way to go IF oil becomes expensive. Without government interference, oil is highly unlikely to ever become more expensive (see: The Julian Simon Bet).
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