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Peak Oil?

Posted by Pejman Yousefzadeh on Sat Oct 21, 2006 at 10:38:56 AM EST

Perhaps not:

Eric Cheney said Friday in a news release that changing economics, technological advances and efforts such as recycling and substitution make the world's mineral resources virtually infinite.

For instance, oil deposits unreachable 40 years ago can be tapped using improved technology, and oil once too costly to extract from tar sands, organic matter or coal is now worth manufacturing. Though some resources might be costlier now, they still are needed.

"The most common question I get is, 'When are we going to run out of oil?' The correct response is, 'Never,'" said Cheney. "It might be a heck of a lot more expensive than it is now, but there will always be some oil available at a price, perhaps $10 to $100 a gallon."

Since his last name is "Cheney," I imagine that some people will still be suspicious. After all, he has to be serving the interests of the oil industry, right?

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