re: #39 albusteve

there is plenty of oil we no nothing about yet…we’ll find it and I think it’s presumptuous to believe we know how much oil there is on this planet…I call bullshit

Let the total quantity of oil that will ever be produced be designated by Q. If it should turn out that we’ve underestimated Q by a factor of 2, do you think we’ll be sitting pretty for another couple centuries? No. The 50-percentile mark in the pattern of production would shift into the future by only about 20 years, give or take a year or two. I’m assuming a gaussian model.