7 The End of Oil
After reading the global warming related chapters, I feel like I really want to know something about one of the main carbon dioxide producers. Therefore, I read something about oil, and it was quite interesting to be honest. Back to China, my father often said that the price of oil rose again while we were heading to school in the morning. At that time, I was not quite familiar with all those financial matters, but I did know that there was an ancient Chinese saying that rare things are expensive. So, I was thinking like, “Are we running out of oil?” Fortunately, I decided to get up early and take bus to the school after hearing that, so it didn’t confuse me for too long.
However, I suddenly realized something after trying to understand Marion Hubbert’s prediction graph on page 86. That is, we are not going to run out of oil, at least not for now. According to his graph, till 2050s, we will still have quite a lot of oil equivalent to 1960’s total amount we had discovered, which means we won’t need to worry about using up the oil for a century from now on. Moreover, the following session introduces an advanced technology called Fischer-Tropsch which was first used by Nazi Germany. Specifically, it can convert coal to oil which means we don’t really have to drill oil from underground. Additionally, the United States will be able to sustain over hundreds of years depend on the demands’ change.
In general, what I need to do is to maintain a relatively stable economic environment as a president, which means I also must try to control the stability of international oil prices to avoid the probability of a war outbreak.