DailyDirt: The Curse Of Oil

from the urls-we-dig-up dept

Having huge oil reserves can be an economic curse for a developing country. The natural-resource curse often produces oil-rich nations that are ruled by dictators and are so reliant on petroleum that its economic growth is hindered because all other industries are neglected. The prediction of the end of fossil fuels will come true someday, but the exact time of death isn’t easy to forecast because improving technology seems to keep extending the useful lifetime of oil. Here are a few links on the topic of planning for a post-oil economy.

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Comments on “DailyDirt: The Curse Of Oil”

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OldMugwump (profile) says:

90 years?

90 years?

How can anyone take seriously a prediction that depends on the state of technology 90 years from now?

How much accuracy would you expect from a prediction of 2013 technology made in 1923?

90 years from now people could be colonizing the moons of Saturn and using antimatter power – who the heck can say?

This is just…stupid.

Lawrence D'Oliveiro says:

The Curse Of Nauru

It?s instructive to consider what happened to the Pacific island nation of Nauru. The wealth wasn?t from oil, but from bird guano?the island was covered in the stuff, and it was extremely valuable as fertilizer.

So everybody got rich, and spent up big. I think the place is still full of expensive US-made luxury cars today.

Of course, they were vaguely aware that the guano would run out one day. But the citizens assumed their Government was preparing against that eventuality, while the Government assumed the citizens had the foresight to take care of themselves.

So they woke up one morning to find the money had run out. So Nauru has gone from being filthy rich to being a poor Pacific backwater again.

anonymouse (profile) says:

from a research and development view, oil is a liability for the USA. we’ve pretty much reached the end of exciting hydrocarbon development, but the powerful oil lobby in our gov’t tends to displace a distressing amount of potentially viable energy research and development.

i love my internal combustion car (VW Jetta TDI, go diesel!), but am impatient to see some of the other techs emphasized…ie: gen 3 and 4 fission reactors.

Anonymous Coward says:

Re: Re: but the powerful oil lobby in our gov't tends to displace a distressing amount

They don’t have to, they have politicians giving them more money in subsidies for oil drilling then we spend on research and development of all alternate sources of fuels combined.

It’s really dangerous long term overusing oil. If the entire world went back to burning wood to get heat, the world would run out of trees to burn within a year.

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