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. If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post via StumbleUpon.
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Filed Under: energy, fossil fuel, natural resource curse, oil, peak oil, petroleum, predictions


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  • icon
    OldMugwump (profile), 28 Oct 2013 @ 5:29pm

    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.

    reply to this | link to this | view in chronology ]

    • identicon
      bigpicture, 28 Oct 2013 @ 6:20pm

      Re: 90 years?

      Yep, I'll buy that. The so called cold fusion or LENR or whatever other name they want to call it now is just one such technology that could displace a lot of oil in the next ten years. That is if big oil does not buy it up and shelve it.

      reply to this | link to this | view in chronology ]

  • identicon
    Anonymous Coward, 28 Oct 2013 @ 6:19pm

    meh

    Norway is the top in health-care, education, and the economy because of its oil, if it wasn't for the oil it uses to subsidized its public health-care it would be last in Europe

    reply to this | link to this | view in chronology ]

    • identicon
      Anonymous Coward, 28 Oct 2013 @ 7:26pm

      Re: meh

      Yeah, Norway was a backwater third world nobody before they found oil in the 60s ...

      What are you, a dumbass?

      reply to this | link to this | view in chronology ]

  • identicon
    Lawrence D'Oliveiro, 28 Oct 2013 @ 7:44pm

    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.

    reply to this | link to this | view in chronology ]

  • icon
    anonymouse (profile), 28 Oct 2013 @ 9:23pm

    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.

    reply to this | link to this | view in chronology ]

    • identicon
      Lawrence D'Oliveiro, 28 Oct 2013 @ 10:45pm

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

      Is this a more subtle version of the idea that the oil companies are secretly suppressing research into alternative energy technologies?

      reply to this | link to this | view in chronology ]

      • identicon
        Anonymous Coward, 29 Oct 2013 @ 5:44am

        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.

        reply to this | link to this | view in chronology ]

        • identicon
          Anonymous Coward, 29 Oct 2013 @ 6:25am

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

          Well as long as the population keeps growing unchecked at some point not even tech will help us deal with it.

          reply to this | link to this | view in chronology ]

      • icon
        anonymouse (profile), 31 Oct 2013 @ 2:44pm

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

        i wasn't really thinking of secret suppression by the oil companies, i was thinking of the economic principle of crowding out.

        reply to this | link to this | view in chronology ]

    • identicon
      Anonymous Coward, 29 Oct 2013 @ 4:45am

      Re:

      Fission is so yesterday ... and fraught with problems, but let's overlook that because there simply are no other viable alternatives.

      reply to this | link to this | view in chronology ]

  • identicon
    Earl Richards, 29 Oct 2013 @ 2:11am

    Electric Cars

    To avoid the gasoline price, rip-off, plug your Tesla S, electric car into your household, solar array.

    reply to this | link to this | view in chronology ]


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