Daniel Draffen

Investing In a Resource-Constrained World (Part V)

I do not have a cold fusion power supply in my home - it isn't available!!! When will it be available and at an affordable price? We'll, I'm not holding my breath! I do have solar panels, however, and they give power every day, even on cloudy days, albiet at a lower level, whether the grid does or not. Every tree and plant with leaves on it has "gone solar", too. Seem's solar was God's first choice. I know the solar panels are expensive to manufacture as well as those clunky, lead filled batteries but, hey, the system works and that is what counts the most. The govenment gives big tax breaks to oil, gas and coal companies as well as to the ethenol companies so why not for solar, too? One great thing about solar is the 5 billion years of reserves left!!! That's my understanding of how long the sun will shine and that's the reserves, is it not? Long after coal, gas, oil and even uranium is gone there will still be good old solar...the sun will shine and shine. The emphasis, in my opinion, should be to continue improving the efficiency and cost reduction of solar and coming up with more practical ways to store the energy. Nuclear puts out lots of power but we may hit peak uranium soon. Besides, I just hate those Chernobyl scenes that happen from time to time. Solar panels, like the leaves on the trees, just sit and suck up the energy quietly and do it most safely... Go solar!!!

Has Oil Production Reached a 'De Facto' Peak?

You could call it 'Virtual Peak Oil'. Herbert's global peak is probably just a few years away or here already. Even as Saudi Arabia plans to boost production many more oil fields are hitting peak and going into decline. In additon, many oil exporters are acutally using more oil themselves, not hoarding per se but actually keeping it for their own growing economies. The remaining reserves are getting really hard and *expensive* to get to and produce. We're not out of oil but are out of cheap oil. Peak 'Cheap' oil has happened!!!