Markets, Energy

This represent a serious of tweets on Energy with another individual.

It is amazing that over the years, we were told we are running out of energy but yet we keep finding even more.https://investors.com/politics/commentary/we-are-not-running-out-of-oil-earth-produces-crude/… This individual is wrong for so many reason and one reason Bonus doesn’t understand free market or study the energy market over the past decades

FROM Bonus i Sorry to burst your somewhat fragile bubble but fossil fuels are going to be replaced whether you like it ir not. Reason: they are finite and over 90% of the population of the world is covered by governments who signed up to the Paris accord.

From Bonus What year will we run out of fossil fuels? Do you understand the exponential growth function?

Me: Not anytime soon, do you not understand economics? Note also that if you examine past predictions of what we have left, it often UNDERESTIMATED energy sources. So you are debating the wrong person, I read your data and mine is superior. We are nowhere near running out.

Bonus Then what year? At what rate of annual growth in consumption?

Me: Well tell me what year do you predict? Let me explain this so even you can understand. We don’t know since we are finding more than expected with newer technology like fracking. So if you can’t answer the questions and you can’t, then history is our guide.

Bonus The problem you have is exponential growth. Do you know why?

Me: You are working on the assumption that we have a specific finite materials and refuse to see that we are finding more than original predictions. If you predict x and we find y which is triple of x, due to new technology then we have totally different scenario.

I find your point of exponential growth irrelevant since we have not clue what we will be able to find at the right price. What is expensive to find today is not tomorrow, then we find more. Your exponential growth is based that you think we have x amount.

We are at impasse since you coming from we have a limited amount and I am making the point that what we think we have today UNDERESTIMATE what we might have since new technology may find more price reasonable. I get your point

Just look at population, we were told for 200 plus years we have finite resources to support population but we find that due to human ingenuity, we find more resources supporting growing population. Exponential growth in population theories have already been proven wrong.