[ExI] The sky is falling!

[Rafal Smigrodzki]

On Thu, Mar 26, 2009 at 9:19 PM, Stathis Papaioannou <stathisp at gmail.com> wrote:
> 2009/3/27 Rafal Smigrodzki <rafal.smigrodzki at gmail.com>:
>> Somebody wrote:
>>
>> the upcoming monstrous energy shortage (and the
>>>> resulting chaos and death).
>>
>> ### What a joke! Amongst an ongoing energy glut (see e.g.
>> inflation-adjusted crude oil prices almost as low as in 1948! -
>> http://inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm),
>> there are cries of doom, gloom and general gnashing of teeth.
>>
>> The only shortage we have is common sense.
>
> That there is a glut now does not necessarily mean there will always
> be a glut. It is possible that production of a commodity outstrips
> demand this year even though the commodity will completely run out
> next year.
>
### If there was even the remote possibility of this happening in the
foreseeable future (i.e. before the singularity wipes us out), oil
futures would be shooting through the roof, and they aren't.

Rafal