Yes these are interesting times. Short of finding a means for cold fusion, unfortunately I'm pessimistic.
- Uranium is finite. If all the world's power stations could suddenly become nuclear, Uranium would only last 15 years, not to mention the waste. - Oil production has peaked out at around 85mill barrels per day. The crisis has reduced demand to under this so there is currently a surplus therefore the low prices. - Many examples of wells peaking out. - The US peaked way back and production there is now well less than half consumption. There is no Dallas type series on tv anymore because the oil is gone. - The North Sea is in steep decline. - Mexico, a US major supplier with one of the giant wells is in steep decline. - Indonesia is not part of Opec now because it is an importer. - Saudi Arabia allows no independent appraisal of their reserves, however satellite photos show twice as many rigs now on their giant field to produce the same output. - Some small discoveries here and there but production peak is around about now. No large discoveries since the '70s. - The last giant field is in Iraq. Bush and Cheney knew about peak oil from way back that's why they invaded. Bush's farm in Texas is not connected to the grid. - Fortunately Australia has good gas and coal reserves, which should serve us well for a while. - It all will come down to BTU units. .ie the most energy for your cash. That's why I like Aussie Coal and Gas companies. They are dirt cheap for the long run. Lifetime opportunites right now imo.
- Solar and Wind can help marginally, but they mostly are just political discussion points for lefties and academics. Denmark has the highest percentage of wind power but also has the highest cost of electricity. The backup power stations have to be constantly powered up and down for when the wind doesn't blow. Wind and solar does not create base load, and like ethanol, are fossil fuel energy sinks to create and maintain.
