tag:blogger.com,1999:blog-9864176.post3139012690592162150..comments2023-12-01T16:56:04.415+11:00Comments on Peak Energy: How High Oil Prices Will Permanently Cap Economic GrowthBig Gavhttp://www.blogger.com/profile/00682404837426502876noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9864176.post-38928902317247325742012-09-30T13:26:09.864+10:002012-09-30T13:26:09.864+10:00Rubin is wrong in so many ways.
Even before we mo...Rubin is wrong in so many ways.<br /><br />Even before we move to a renewable substitute for oil we are cutting our oil usage. US oil usage peaked in 2005, it was down 10.1% in 2011. Oil usage was falling prior to the recession. Driving is down 0.8%, flying 3.7%, freight (air, road, rail and water) is down 2.7%. Heating oil use peaked in 1996 and is down 40%.<br /><br />About 2% of the 10.1% drop is due to less "travel", the rest to efficiency.<br /><br />We're moving to supply a larger percentage of our oil domestically which will boost our economy. We've been sending roughly $1 billion offshore for oil each day. We're doubling our CAFE standards by 2025. A lot more money is going to stay in the economy and stimulate growth.<br /><br />Then, we're likely short years from "adequate" EV batteries, affordable batteries which would let one drive about 200 miles and get a 90% recharge in less than 20 minutes. <br /><br />When we can drive distance on electricity then our movement away from oil will be swift. Driving on electricity is like tanking up with $1/gallon gas.<br /><br />I'd say that Rubin is very wrong. We are likely on the cusp of a major economic boom as we build renewables and switch to EVs and pay for them with oil savings. Bob Wallacehttps://www.blogger.com/profile/09823785572625960890noreply@blogger.com