Every day there seems to be some kind of new report because somebody did a math problem and came to the conclusion that we are going to run out of some resource. Lately the big story is oil. I’ve heard we will run out of it by 2020. Another article says 2050. I’ve also read about us running out of water. It reminds me of my old Microeconomics class. I wish I could remember the name of the person, but somebody back in the days before farming caused a panic by telling folks that the population was growing so much that the world would run out of food by 1815. That person didn’t account for one major unknown factor though. Technology.
You can NEVER predict technology. When a problem presents itself, some dude figures out a way, and you can never add that guy to some math problem. He is the unknown variable. High gas prices? People are finding ways around them with different energy sources. If gas got to be around $20 a gallon, you can rest assured, good ol’ technology would step in and take care of that problem or provide an alternative. It already is with $4 a gallon gas. People here in Sioux Falls, South Dakota are buying scooters that can get 100 miles to the gallon. Others take it one step further by getting electric scooters. Some day we might even be able to get 1,000 miles per gallon in a full size SUV.
We will never run out of oil. We will never run out of water or food. All these studies that say we’re going to run out of resources by a certain year are just playing into your fears. Thank God for the guy tinkering in his garage.