Re: Oil and overproduction 3

["viveka" <kaliyuga@xxxxxxxxxxxxx>]

David wrote:

> Are petroleum and hydrocarbon reserves finite?  Absolutely.  But are we at
> the end of those reserves?  Based on the historical, social, rotations of
> capital, I say no.  And the rotations, the movement of capital, the
> trajectory of the oil industry, from exploration to production to
> overproduction, is determined by the decline in the rate profit, not the
> depletion of resources.

David,

I have to say I haven't a clue as to what you are saying here.  But I am
simple minded.  You base your argument that oil reserves are NOT at an
imminent end on the rotation of capital or some such argument, abd as such
you are using theory to determine reality, rather than looking at the simple
cold hard facts as they stand.  Again, I am simple minded.

If you accept the fact that oil resources are finite as you do, then the
question really comes down to how soon?  Does it really make any difference
here if we're talking 5 years or 20 years?  If Mark errs on the side of
being overly-apocolyptic, what of it really?  Do we sit on our asses and
postulate until 11:59 p.m. before the apocolypse?  Besides, he clearly has a
wealth of facts from reliable resources to support his theory.  But then,
like I said, I'm pretty simple minded.

Margaret


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