Monday, May 12, 2008

Can You Say Manufactured Shortage

I was reading this article which concludes with these words,

The notion that this planet is running out of oil is one of the great misnomers of our age. There is more oil available today than there was a hundred, fifty or ten years ago. And there is every indication that this trend will continue into the future. Instead of lamenting that we are running out of it, it would be far more accurate to say that we are constantly bumping into new oil. This is why two years ago the Economist headlined an article on the topic The Bottomless Beer Mug.
The general public, however, is largely ignorant of these facts. The divergence between the conventional wisdom and reality could hardly be any wider. Profoundly misinformed and alarmed, people place false hopes in misguided alternatives. Rather than implementing harmful, inefficient and expensive substitutes, we should insist that our government lift the obstacles which prevent us from availing ourselves of this superabundant resource.

It made me realize once again how the radical environmentalist want to keep people ignorant of the facts, not to mention the oil companies that manufacture shortages by not only not building new refineries but closing refineries so they can keep the prices up with a manufactured shortage.


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