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View Diary: The Silver Lining and Black Lies of High Gas Prices (11 comments)

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    bincbom

    ...but as a nation, and a planet, we were screaming toward Peak Oil oblivion at 14 miles per gallon.

    Now, going forwarde, gasoline usage may well be sharply curtailed.

    EVERY gallon saved in the next five years will soften the landing, for when oil starts running out.

    In addition to peak oil, and perhaps more important in the short term, is refinery capacity.

    You CANNOT increase capacity short-term...you can only bring on new refineries online slowly, and expensively.

    By all accounts, these refineries will only be needed for a 10-20 year period before MUCH of the vehicular traffic is modified to alternative sources of energy...electic, bio-diesel, etc.

    Why would a corporation spent a TON of money for an asset refinery that they may well not get their investment back on?

    It is my basic contention that this hard, sharp spike in oil may well be a good thing for our planet, despite the economic dislocation caused by it over the short term.

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