Co-state variables...

Dhlazare Dhlazare at aol.com
Wed May 20 17:58:27 PDT 1998


In a message dated 98-05-20 13:25:04 EDT, Barkley Rosser writes:

<< Even if it is off by ten years or so due to

as yet undiscovered major reserves or major tech

breakthroughs in terms of recovery methods out of old

fields (these have been happening to some extent), at some

point we are going to have to get off oil, one way or

another, period.

Dan Lazare replies:

Yes, I quite agree, although for the forseeable future I think that the pressure will be from the environmental/social side, not the supply side. To reiterate: energy markets are glutted, have been so since the early 80s, and prices are kept artificially through subsidization of infrastructure and environmental costs, etc. The chief danger is not that oil will run out, but that the cost of those externalities will prove ruinous. Hell, they're already proving ruinous. The question is what happens when ruin is piled on top of ruin ad infinitum.>



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